Dipika (Trainee) 21 June 2012
If a Company had defaulted in repayment of its debts and such default continues for a period of 30 days, in such situation can the Company re-appoint its Managing Director (MD) with NIL Remuneration without going for Central Government's Approval?
Can it re-appoint its MD as per applicable provision of Part I of Schedule XIII of the Companies Act, 1956?
Dipika (Trainee) 21 June 2012
As mentioned above the Comp[any is a Public Listed Company.
S Jadhav 98336 98330 (Jadhav & Associates) 16 July 2012
No it cannot. On both grounds.
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