Priya Sharma (Company Secretary & Student.MBA) (998 Points)
05 September 2009A director got appointed as additional director on 5th April 2007.Now please let me know when will he cease to be a director, in 2007 AGM or 2008 AGM.Because as per sec 260, additional director ceases to be a director in the next AGM.
Secondly when an additional director ceases to be a director on the date of AGM, is it required to intimate ROC through form 32 about the end of the directorship of the aditional director???
Pls suggest
Regards
Priya Sharma
sreedevi
(Trainee)
(118 Points)
Replied 05 September 2009
in 2007 agm , he should resign and eligilbe for reappointment.
within 30days of agm, u should file form 32 to roc.
form 32 is filed whenever the status of the director changes in the company and after the AGM the additional director automatically retires and his status has been changed in the company.
So, form 32 has to be filed within the 30 days of AGM.
In AGM of 2007, the director is liable to retire by rotation.
If you need further clarification than contact me.
SUNIL KUMAR JAIN
(PRACTISING COMPANY SECRETARY)
(187 Points)
Replied 07 September 2009
Mr. Ankur Shah,
As per section 260 of the Act,an additional Dirctor shall hold office only up to the date of the next annual general meeting of the company.Since the said director is not a permanent director he is not liable to retire by rotation.At the AGM he may be appointed as a director.
Regards,
CS S.K.JAIN
Sunil K. Jain & associates,
9810104162
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 08 September 2009
| Originally posted by :SUNIL KUMAR JAIN | ||
| " | Mr. Ankur Shah, As per section 260 of the Act,an additional Dirctor shall hold office only up to the date of the next annual general meeting of the company.Since the said director is not a permanent director he is not liable to retire by rotation.At the AGM he may be appointed as a director. Regards, CS S.K.JAIN Sunil K. Jain & associates, 9810104162 skj13 @ rediffmail.com |
" |
Agree. Additional Director is not liable to retire by rotation.
Ms. Priya,
Your AD is liable to retire as AD in 2007 AGM. In that perticular AGM he may be regularise as director u/s 257.
However if some one fail/forgot to regularise AD in the AGM then:
1. you have to file form 32 for vacation of office u/s 260. (Check form 32) vacation u/s 260 is mentioned in form 32.
2. If you still want to continue with such director then re-aoppint him as AD u/s 260 by filing II form 32.
In case of any doubt please revert as there are so many implications involved in this case. Not possible to mention here.
Best Regards
Priya Sharma
(Company Secretary & Student.MBA)
(998 Points)
Replied 08 September 2009
Thank You very much to all.
Additional Director Mr. A's, Appointment Date 05/April/2007.
Suppose the AGM date for 2007 is 29th Sept 2007. Now the additional director shall retire on the same date 29/09/2007.Now we want to appoint him as a regular director in our Company (Pvt Co.). However no form 32 has been filed till date for appointing him as the regular director.
Moreover Mr. A was ppointed as MD also on the same date that is 05/April/2007, when he was appointed as additional director.
So my questions are:-
a) whether we need to file form 32 for his discontinuance from 29/09/2007 and again one form 32 for appointing him as director form 29/09/2007 onwards.
b) Will the Mr. A's designation as MD would have gone away, since form 32 was filed on 29/09/2007 for appointing him as the regular director.
Regards
Priya Sharma
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 08 September 2009
First understand
Technically and legally association of Mr. A with your company as director or MD is wrong today.
Priya Sharma
(Company Secretary & Student.MBA)
(998 Points)
Replied 08 September 2009
Will you be a bit more specific Sir........as I cannot get you
Priya Sharma
(Company Secretary & Student.MBA)
(998 Points)
Replied 08 September 2009
I agree with you Ankur Sir that Mr. A's association with the Co.at present is leagally incorrect .
But as a remedy can't we file form 32 for regularising him?
Rgds
Priya Sharma
SUNIL KUMAR JAIN
(PRACTISING COMPANY SECRETARY)
(187 Points)
Replied 08 September 2009
Ms.Priya Sharma,
In the given situation, the Company is to appoint the person as a Director at an EGM to be held before 29.09.2007 say 10.09.2007 and to file Form-32 accordingly.
Regards,
CS S.K.JAIN
Sunil k. jain & Associates
9810104162
BHARATH SRIVATSAN
(EMPLOYEE)
(43 Points)
Replied 10 February 2011
Sir, Should there be 2 Forms 32 filed for vacation of Office by Additional Director and then for appointment of Additional Director as Director in the AGM
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 10 February 2011
No, only one form 32 required for change in director.
Jayashree S Iyer
(Company Secretary)
(3224 Points)
Replied 10 February 2011
One form is sufficient. In form 32, select the option "change in designation" and change the designation from "Additional Director" to "Director or Managing Director or Whole Time Director" as the case may be.
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