10 September 2014
we appointed one person as additional director in a private limited company and now want to appoint as regular director my two queries.
1. Can we appoint as regular director not liable to retire by rotation ? 2. whether it is necessary to accept deposit of Rs.1,00,000/- from such person
In fact, director appointed in private company is non -rotational director bcoz provisions relating to rotational director is not applicable to private company. You are not required to pass specific resolution to make director non -rotational.
2. yes. When an additional director is regularized in general meeting, Sec.160(1) will apply and deposit of Rs.1 lac will have to be given bcoz he is not a retiring director at the general meeting.
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