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Appointment of Manager

Khushboo Maheshwari (Company Secretary) (548 Points)

04 May 2010

Can anybody please tell me the procedure for appointment of manager under section 269 of the Act. Also please provide a draft resolution of the same. Further please confirm if the appointment of manager satisfies the conditions as per section 269 and there is no need to appoint Managing Director.

Thanks

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8 Replies

CS Jithesh (ACS,) (COMPANY SECRETARY ) (485 Points)
Replied 04 May 2010

Convene a board meeting to fix the date and time of Genral meeting.

In the general meeting the appointment of the person as manager has to be passed in accordance with Schedule Xiii .

Where the appointment is not in accordane with Schedule XIII then the company is required to obtain an approval from Central govt by filing Form 25A with all particulars as mentioned in the form. With in a period of 90 days from the appointment.

Sign and execute the agreement as may be prepared.

Obtain Form No 24AA in which he is having interest and update the registers.

File Form No 25C within 90 days of appointment and file form 32 with in 30 days of appointment.

Regards
CS Jithesh

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Khushboo Maheshwari (Company Secretary) (548 Points)
Replied 07 May 2010

Thanks Jithesh for your reply.....further to my query do we have to obtain consent and other documents from the Manager also as we obtain in case of MD

CS Mayur Buha (Company Secretary) (238 Points)
Replied 07 May 2010

Mr. Jitesh,

The form no 24AA is only required to director or manager also?

because the section 299 talking about only for 'every director' and not for manager.

CS Jithesh (ACS,) (COMPANY SECRETARY ) (485 Points)
Replied 07 May 2010

It is always better to get Form 24 Aa from both director and manager. Because Manager is having more powers than a director. He is just like an MD of the company. So we have to accept the Notice and disclosure of interest through Form 24 AA and update the statutory register also

This is my view.

IF any contradiction is there kindly feel free to put the same in this forum.

Regards

CS Jithesh

Preety (Company Secretary) (96 Points)
Replied 08 June 2010

Hello friends

Mine is a listedCo. Earlier my Directors were interested in appt MD of the Co. but now they have decided to appont Manager of the Company who is the relative of one of the Director of the Company. Pl tell me what compliances will be required to be done since Director will be intertested in such appt. Also, I have read abstract of such appt has to be sent to all the members. What isthis abstrat. Pl tell me the format of such abstract. Also send me the resolution for appt of manager.

Regards

Preety

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Preety (Company Secretary) (96 Points)
Replied 02 July 2010

Hello Mr Jithesh.

Sir , u have written Form 32 is required to be filed for appt of manager. But to my Knowledge , Form 32 is required only for Directors and MD and not for managers. Pl correct if I am wrong.

Regards

Preety