19 April 2011
Our Company was incorporated as a Pvt Ltd Co. in 2004. At that time one of the director was appointed as the M.D. In 2011, Company got converted into Public Ltd.As per amended articles, the M.D. can be appointed for a period of 5 years. The company want the same director to continue as MD. Now should I re-appoint him by filing Form 25C & 23 or a fresh appointment should be made by filing Form 32 & 23? Please give your suggestions.
20 April 2011
No need to file form 32 as he is already MD. I presume Form 32 is filed showing his designation as MD. If not file form 32 changing his designation as MD.
However form 25C and 23 need to be filed. For this you need to pass a Board Resolution subject to approval of members in the shareholders meeting reappointing him for a period of 5 years and this Board Resolution should be attached to the forms.
Shareholders approval can be taken subsequently at the time of EGM or AGM.
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