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Form 32

670 views 3 replies

Pankaj Sachar

CA Practice

44 Points Joined March 2007

Since there is change in designation of Mr. X from Managing Director to Chairman and also that Mr.X belongs to Promoter group and is getting remuneration, do we need to mention the word director while filing form 32 or we need to mention Whole Time Director, keeping in view that mR. X is not responsible for any particular activity which happens normally in case of Whole Time Directors.
tHE COMPANY IS A PUBLIC COMPANY.

Replies (3)

Ankur Garg

Company Secretary and Compliance Officer

114788 Points Joined January 2009

Dear Pankaj,

I believe you are really confuse.

In your case you don't need to file form-32 at all because you are simply promoting your MD to Chairman for which a simple board resolution is required. You can not consider this activity as change in designation as far as form-32 is concerned. So form-32 is not required in your case.

Whole time director concept is far away from present status os your query.

Sumit Jain

4760 Points Joined January 2009

good reply ankur

Ajay Mishra

Company Secretary

74352 Points Joined March 2009

Dear Pankaj

Chairman is not a designation for which Companies Act require to file any form to ROC, it is only extra power given to the Director/ Managing Director for proper compliance of the Act.

Regards

Ajay