Change in desiganation of managing director

RACHANA DAGA (CS) (555 Points)

24 February 2016  

IN A PUBLIC COMPANY, THERE WAS A DIRECTOR. LATER ON THAT DIRECTOR WAS CONVERTED INTO MANAGING DIRECTOR. NOW THE TERM OF THAT MANAGING DIRECTOR OF 5 YEARS IS EXPIRED. NOW AFTER THE EXPIRY OF TENURE, WE WANT TO CONVERT THAT MANAGING DIRECTOR into DIRECTOR. THE QUESTION IS WHEATHER THE SAID MANAGING DIRECTOR IS STILL A DIRECTOR IN COMPANY EVEN AFTER EXPIRY OF TENURE OF 5 YEARS OR THERE IS A VACANCY ON BOARD BECAUSE OF EXPIRY OF TENURE. AND FOR THE CHANGE IN DESIGNATION OF THAT DIRECTOR, WHAT WILL BE THE COMPLIANCES SO AS TO SHOW HIM ONLY A DIRECTOR IN COMPANY