Disqualification under section 196 of companies act 2013
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 June 2018
As per Section 196(3)
No company shall appoint or continue the employment of any person as managing director, whole-time director or manager who —
(a) is below the age of twenty-one years or has attained the age of seventy years:
Provided that appointment of a person who has attained the age of seventy years may be made by passing a special resolution in which case the explanatory statement annexed to the notice for such motion shall indicate the justification for appointing such person;
So to appoint an ordinary director above the age of 70 SR is required ?
No company shall appoint or continue the employment of any person as managing director, whole-time director or manager who —
(a) is below the age of twenty-one years or has attained the age of seventy years:
Provided that appointment of a person who has attained the age of seventy years may be made by passing a special resolution in which case the explanatory statement annexed to the notice for such motion shall indicate the justification for appointing such person;
So to appoint an ordinary director above the age of 70 SR is required ?
04 June 2018
Yes. Appointment of director who has attained the age of 70 years, Special resolution is required
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 June 2018
Sir, Section applies to MD, Manager, WTD and all of these designations are different and so is the designation of director. So I don't think SR is required.
Moreover while filing DIR-12 all these designation are separately shown and hence a Director is different from Manager, MD and WTD.
Moreover while filing DIR-12 all these designation are separately shown and hence a Director is different from Manager, MD and WTD.
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