Aman Morya (Mgt. Trainee) 17 July 2010

Reappointment of MD/WTD

Is this necessary to hold general meeting while reappointing of MD/WTD?

Mr. A is the director and MD of the Company. In curerent agm he will be reappointed as a rotational director.

Meanwhile his Tenure for MD is going to be ended in 5th August.

Before 5th August we can reappoint him as MD in BM and will have to file form 23 and 25C after BM.

Query ; Whether it is necessary to take this transection i.e for reappointment of MD in coming AGM?

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3 Replies

A V Vishal (Advocate) 17 July 2010

Re-appointment of Managing Director in a public company can be done by board meeting resolution subject to the approval of shareholders in a General Meeting.

If the term of your Managing Director expires on 05.08.2010 pass a board resolution before 05.08.2010 subject to the approval of members in the general meeting and confirm the appointment in next General Meeting held immediately after his/her appointment by the board.

File all the necessary ROC forms (form 23 and form 25C) from the date of board resolution. Nothing is to be filed after General Meeting for confirmation as far as re-appointment of Managing Director is concerned.

Aman Morya (Mgt. Trainee) 19 July 2010

Dear Sir,

If we will write in board meeting resolution "subject to the approval of shareholders in a General Meeting". It means that Ro also required form 23 after GM for the same otherwise how RoC will come to know that the same approval is granted by the shareholders. pls clarify??

Is it required to attached GM resolution with form 23C??