07 June 2011
An independent director in a private ltd co has been appointed in Apr 2010 and regularized in the Agm June 2010.
Does this director need to be regularized again in this year's Agm to be held in july 2011 or if his term is not extended, will he cease to be the director of the company?
08 June 2011
If the independent director is appointed for a fixed term, then his appointment will cease on the expiry of term and his reappointment need to be confirmed in the AGM.
If the appointment is not a specific term, then no need for regularisation at each AGM. His appointment will continue till his resignation or removal.
CAclubindia
