Appointment of Director
This query is : Resolved
23 March 2011
Can a Director be appointed retrospectively
23 March 2011
Board cannot appoint the M.D/ Director with retrospective effect by ratifying the appointment. Reason behind this interpretation is proviso to sub section (3) of section 317.
for more info:-
https://www.caclubindia.com/forum/appointment-of-managing-director-66709.asp
for more info:-
https://www.caclubindia.com/forum/appointment-of-managing-director-66709.asp
23 March 2011
Strictly, No appointment can be made with retrospective effect.
Practically, Appointment is made with a back dated resolution and the procedural compliance is done in current date with additional fees. Which means the appointment is not retrospective but there is only a procedural failure in giving intimation at the right time.
In my view, Proviso to 317(3) refers to a situation in which the re-appointment is prohibited two years prior to the date of termination of the current tenure.
Practically, Appointment is made with a back dated resolution and the procedural compliance is done in current date with additional fees. Which means the appointment is not retrospective but there is only a procedural failure in giving intimation at the right time.
In my view, Proviso to 317(3) refers to a situation in which the re-appointment is prohibited two years prior to the date of termination of the current tenure.
23 March 2011
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23 March 2011
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