Re appointment of md

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 October 2017 a private company , other than small company, appointed a MD five years ago, now whether he is re appointed again in the general meeting for a term five years?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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07 October 2017 Reappointment can be made for the term less than 5 years.

Querist : Anonymous

Querist : Anonymous (Querist)

08 October 2017 THAT MEANS I HAVE TO RE - APPOINT HIM AS AGAIN AS MD IN A PVT CO.

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CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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09 October 2017 RE-APPOINTMENT IS NOT MANDATORY. CHECK ARTICLES OF ASSOCIATION OF THE COMPANY

Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2017 Sir, I am little confused because in AOA,
first, The period is silent. it says The Board has the power to decide the time period of Appointment of MD.
Second, AOA can't overrides the provisions of the The Co. Act. The Act also silent about re-appointment. Act Says no person appointed , re-appointed any person as Managing Director for a term exceeding 5 years.

Please Clarify Sir

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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10 October 2017 As i said Reappointment is not mandatory. However if you want to re-appoint MD it can't for period exceeding 5 years.