appointment of managing director

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

29 September 2010 hi friends

pls answer the following query;;;;;

the paid up capital of our public company touched the limit of 5 crores...

now pl tell me, according to section 269 of the companies act, 1956, In how much time we have to appoint managing director...is there any time limit like 6 months or something else...or we have to appoint immediately..

and also tell me that in how much time we have to appoint the company secretary....

Ankur Garg

Ankur Garg (Expert)
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29 September 2010 For both the appointments there is no time limit fixed by law. However now both the sections are fully applicable on you.

So i would advise you to appoint MD and CS as early as possible within the reasonable time.

Being not a big issue from ROC's perspective it would be very difficult for you to explain the undue delay in appointment.

Regards

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Querist : Anonymous

Querist : Anonymous (Querist)

30 September 2010 but sir there is a Proviso in Sub-rule (4) of Rule 2 of CS Appointment Rules which says that cs should be appointed with in 6 months......

pl explain....

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