We are a listed company. Company has re-appointed its One of the Director as Executive Director for further period of 5(five) years form expiring its term of 5 years.
Now what are the E-forms that are required to be filled with the MCA? Form 23/Form 25C/Form 32
You can appoint it as normal director and mentioned him as executive director and when you passing shareholders resolution for remuneration you mentioned it in explanatory statement that he will be for a period of 5 yrs.
No need to file Form-25C because you are not appointing MD or WTD.
12 May 2012
We have appointed a Director in 2007 and also appointed him as Executive Director for 5 yearms term and filed form 25c &32 in 2007. Now on expiry of terms, we re-appointed him as Executive Director for further 5 years.
I think, there is confusion in your question, please clarify:
1. Whether appointed director is MD/WTD ? 2. How you define that such appointed director is executive director. 3. Why u have filed Form-25C ? 4. Whether you have appointed him as director in General meeting or not. 5. In which section you have appointed him as director.
Yes, You have appointed a WTD for a period of 5 yrs at that time and you want to renew the appointment for further period, in that case, you will file Form 25C and no need to file Form-23 and Form-32 with ROC, because you are not paying any remuneration.
1.If you are appointing WTC it is only requirement to file Form-25c and no need to file Form-23 because Form-23 required only for MD and not for WTD.
2. Form-32 required only for, appointment of director, cessation and change in position of director, but it is not required for re appointment of WTD.
After appointment of WTD, it is also required to take note by shareholders, so i will suggest you, when any general meeting is to be hold in near future you must take it as agenda item.
If you better know that what is requirement for appointment,then my reply is use less for you. So its depend on you what you want to do so go ahead, as you want......
CAclubindia
