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Form 32

Pankaj Sachar (CA Practice ) (44 Points)

15 April 2009

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.

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3 Replies

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 15 April 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.

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Sumit Jain (CA) (4760 Points)
Replied 15 April 2009

good reply ankur

Ajay Mishra (Company Secretary) (74337 Points)
Replied 15 April 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