Kalpana Gupta (Company Secretary) (66 Points)
20 April 2010Hi all,
My query is if a person is a Managing Director of 2 companies, one public company and one of it is a private company, then what is the procedure for his appointment as a MD in another Public Company?
What resolutions are to be passed?
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 20 April 2010
Your case is governed by section 316(4) and you have to obtain prior approval of CG.
Desired form for application for CG approval is form 25A.
You have to pass a board resolution with unanimous consent of the board of directors in a board meeting.
Kalpana Gupta
(Company Secretary)
(66 Points)
Replied 20 April 2010
Thanks Ankur.
Do we need to hold a General Meeting before obtaining CG approval or Board approval would be sufficient? If yes, should the subject be passed as a ordinary or special resolution?
Can we apply in single Form 25A for MD's appointment in 2 more companies apart from the 2 companies in which he is already MD.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 20 April 2010
After passing board resolution with unanimous approval you may file application with CG.
Well as per my opinion you can not file the application of 3rd and 4th company at the same time. After getting approval for 3rd company try for the 4th company.
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