Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

appointment of managing director in a pvt ltd co.

meenakshi modi (PCS) (84 Points)

06 January 2010

dear all,

plz let me know the procedure for appointment of managing director in a pvt ltd co.

thanks

meenakshi

Reply
Follow
Share

3 Replies

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
Replied 06 January 2010

Under section 269 the Appointment of Managing Director or Whole time Director or Manager is required in Public Companies only if its paid up share capital exceeds the prescribed limit i.e. 5 Crore.

However, private company may also appoint Managing Director, subject to the provisions of its AOA. For appointment of MD only Board resolution is sufficient in this case.

Upgrade to CAclubindia Pro. Subscribe Now!

S. Satheesh Kumar (Assistant Company Secretary) (84 Points)
Replied 06 January 2010

Dear All, If a appointee already a director of the Company, in this case a Board Resolution is enough. Form 32 should be filed with ROC within 30 days from the date of appointment. Form 23 should be filed with ROC within 30 days ( As per section 192 (4) ( c ) provide that any resolution passed by Board of Directors regarding appointment or reappointment or renewal of appointment of Managing Director). If a appointee is not a director, first should be appointed him as an additional director then we can follow the aforementioned procedure. Kindly check with AOA of the Company regarding any additional requirements specified.