27 October 2010
In case of a newly incorporated Pvt. Ltd. company three directors (subscriber to the memorandum) were appointed as first directors of the company.
My question is that, whether such directors are required to be reappointed in the first AGM of the company or they will continue to hold the office untill they vacate the office due to the resignation or some other reasons. As the section 255 is not applicable on private company.
28 October 2010
In case if there is no regulation in the Articles of Association of the Company for the appointment of First directors, then they should be appointed in the EGM/First AGM as the directors of the Company.I think it is not a re-appoint only appointment...
CAclubindia
