NIRAJ GOEL (PROP.) (107 Points)
24 August 2011A Limited company registerd with 12 Directors at time of Incorporation. the 13th was added subsequently.
i hope the maximum limit is of 12 Directors, the company did not take any approval of Central Govt.
the Company got aware about this fact 4 months after.
is there any remdy.
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 24 August 2011
The section clarifies it will not have any effect unless approved by CG.
It is thought provoking how the system accepted when you filed form 32 for the 13th Director.
Strangely, like section 285, no penal provision is prescribed in the section itself.
Hence, one feels, general residuary clause of Rs 5,000/- penalty will be imposed on the Company.
has your practising CS issuing CC qualified his/her Report ?
Regards,
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 29 August 2011
Did your form 32 for the 13th director get approved ?
CAclubindia
