30 December 2015
Can MR-1 be filed for appointment of WTD on the basis of board's approval ? Board Resolution specifies proposal is approved subject to approval of the shareholders in general meeting.
14 January 2016
the appointment of whole-time director and the terms and conditions of such appointment and remuneration payable thereon must be first approved by the Board of directors at a meeting and then by an ordinary resolution passed at a general meeting of the company.
It means without approval of members the appointment is invalid.
According to my view, MR-1 should be filed after shareholders approval though MR-1 does not contain details of shareholders resolution. it require copy of board resolution only.
03 February 2016
Mandatory attachment requirement in MR-1 needs board's resolution only.accordingly,this return could be filed within 60 days from the effective date of appointment on the basis of board's resolution without waiting for shareholders resolution.Otherwise,there may be delay in filing the return.
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