Please Provide Your Views
These Questions are with respect to a Public Ltd (Unlisted) Company:
1. We are presently having a Chairman cum Managing Director (CMD) in the Company. Can we appoint one more director as a Managing Director in the company? Is there any provision in Company Law restricting the appointment of 2 MD in the same Company?
2. We have appointed one person as an additional director. Can we appoint him directly as MD in Board Meeting without confirming him as a regular director in the next coming AGM of company. And what will be its consequences. Whether he will cease to be a director in the next coming AGM. (Assume we are complying schedule XIII and no Central Governemnt approval in our Case).
3. If we want to remove an MD from his Position of MD but wants to retain him as an Ordinary Director. What Procedure is required to Be Adopted for doing this?
CAclubindia
