At the incorporation of a private Company when the form 32 was filed the category of Whole time Director was by mistake given as " Director". The Whole Time Director has been paid remuneration since the time of incorporation. There is no agreement, board resolution mentioning him as the WTD and neither the Articles mention him as such. How to rectify this now? Do we have to file a form 32 back dated? Please guide.
07 December 2011
For a private company appointment of WTD is not necessary. So legally there is no need to rectify anything. Since his designation is director in all the documents and in ROC which is fine.
For remuneration also there is no problem bcoz strict provisions of remuneration are not applicable to a private company.
However if u want to appoint him as WTD then simply pass a BR and file form 32 for change in designation with roc.
07 December 2011
The reason we want to show him as a WTD is because we are filing a compounding application for an offence which has been continued since 2008, if there is no WTD then all the directors become officers in defalut, that is why was wondering if we should file a belated form 32 mentioning change in designation in the first board meeting of the company.
CAclubindia
