03 May 2011
Can any one solve the following queries??
Is it necessary to file for 25C for appointment of WTD in a Pvt Ltd company??
We can appoint WTD for max 5 years. What is the compliance for re-appointment of the same?? do we have to file form 32 again??
What are the provisions applicable for remunearion of WTD in a Pvt Ltd company??
What are compliances regarding Board Resolution for Remuneration of WTD?? do we have to note it for every year?? if yes, then in which meeting?? what is the compliance if there is an increase in remuneration?
04 May 2011
No provision of companies act, 1956 applicable in case of appointment / reappointment of director .... so u can follow just your article.... and file form 32 (not necessary but its good corporate practice... pass a simple Board resolution only
04 May 2011
(1) as form 25c is requirement of section 269 of companies act which is applicable in case of public company and pvt company which is subsidary of public company. so no need to submitt form 25c.
(2) basicaly the form is for notice of change in directors so need not to file for re appointmnet but it si as mr.praveen said good corporate practice to file the same. (3) you can just pass an board resulution in this regard in compliance of your AOA and read with disqualification of director etc. as section 198 and 309 is applicable to public limited company. hope everything is clear any update from any other member are awaited
05 May 2011
Thanks a lot Mr. Pravin and Mr. Radhe for your reply...
Just want to clear my last point.. "What are compliances regarding Board Resolution for Remuneration of WTD?? do we have to note it for every year?? if yes, then in which meeting?? what is the compliance if there is an increase in remuneration?"
05 May 2011
md pooja you need to pass simple board resolution mentioning all terms and condition of appointment or you can give reference of any agreement made on this behalf and just minutize it get it sign.
CAclubindia
