16 April 2010
The Pvt. Ltd company has entered the shareholding agreement with a foreign company, as per clauses of the agreement the Foreign company appointed the Nominee Director. Now the foreign company nominating the another person in place of the First Director, Whether Board Approval is required for the same? What are the other compliances on this part?
16 April 2010
Yes, appointment of directors whether nominee or otherwise need approval of the Board of Directors
Querist :
Anonymous
Querist :
Anonymous
(Querist)
16 April 2010
As I told, there is a clause for the appointment of the nominee director in the Shareholding agreement. Now it is regarding the replacement of the first nominee director, still they require BM approval, Pls quote the provision.
16 April 2010
There is no specific clause in Companies Act But you need to approve in Board and Even file Form 32 for both resignation of first director and appointment of another Director in its place. THe designation for both will be Nominee Director & not additional Director in Form 32
Querist :
Anonymous
Querist :
Anonymous
(Querist)
16 April 2010
whether appointement of second nominee director with retrospective effect is possible?