04 August 2010
Section 269 is not applicable to a private limited company. Hence, the routine procedure followed by a public limited company i.e, appointment of the director as MD at a Board Meeting and subsequent confirmation at the AGM is not required.
The Private Limited company can appoint the person as MD directly at the Board Meeting and file all the necessary forms i.e, Form 32 for appointment or change in designation, Form 23 for agreement if any entered with the MD (strictly not required), Form 25C for appointment of MD.
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