Nakul Grover
(CS)
(28 Points)
Replied 09 October 2010
· Board meeting is to be convened for passing a resolution under section 269 for WTD appointment and deciding the term of the WTD/MD and remuneration (whether monthly or Net profit sharing basis).
· Prior Approval of Financial institution taken to appoint the WTD, if required (ie if the Company has defaulted under 58A etc).
· Copy of resolution filed to ROC within 30days after passing resolution.
· If the appointment is in conformity with Sch XIII a return in FORM 25 C filed within 90days of date of appointment
· If not in conformity then with the prior approval of Central Government
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