Yogesh Bhatt (Company Secretary) (475 Points)
11 October 2010Dear Friends,
E.g
1. I hv appointed an Additional director as on .01.04.2010.
2. than in agm I hv appoint him as WTD for that i hv filled two form 32 ..first form - 32 for change in designation as on AGM as director and another form- 32 for change in designation as on 01.04.2010 as as WTD.
Q. 1 I can do such practice. ?
Q.2 We can give remuneration to additional director ?
reson ws only that we have paid salay to Additional Director so for giving back dated effect.
Pls help.
Yogesh
Mitali Agarwal
(Company Secretary)
(638 Points)
Replied 11 October 2010
Yes, it is possible.
Additional Director can be appointed as WTD in the BM in which he is appointed as Additional Dir.
And then he can be regularised in AGM and also his app. as WTD may be confirmed in AGM.
Form 32 can be filed dated 01.04.2010 for change in desig. to WTD and then Form with AGM date for regularisation.
Yogesh Bhatt
(Company Secretary)
(475 Points)
Replied 11 October 2010
Dear Mitali,
Means there is need to file two form - 32 in that case ?
Mitali Agarwal
(Company Secretary)
(638 Points)
Replied 11 October 2010
Yes, 2 forms will have to be filed since they carry two different dates with much gap. In other words, since fees payable to ROC wil be different in the two cases, that's why two Forms will have to be filed.
Yogesh Bhatt
(Company Secretary)
(475 Points)
Replied 12 October 2010
and my another quersting is still pending that we can give salary to Additional Director ?
Mitali Agarwal
(Company Secretary)
(638 Points)
Replied 12 October 2010
Yes, if an Additional Director is appointed as WTD from the first day of his appointment (i.e. in same Meeting) than he can dra salary from the company.
Yogesh Bhatt
(Company Secretary)
(475 Points)
Replied 12 October 2010
but if i m not change designation till AGM. than he can withdraw remuneration.
Mitali Agarwal
(Company Secretary)
(638 Points)
Replied 12 October 2010
But you have appointed him (additional Director) as WTD w.e.f 01.04.2010 in the Board Meeting??
You can do one thing, appoint him as AD in BM say datd 01.04.2010 and subsequently in the same meeting appoint him as WTD subject to approval of members in GM.
Then in AGM approve the appointment.
Yogesh Bhatt
(Company Secretary)
(475 Points)
Replied 13 October 2010
Dear problem is that already such practice has been done so i just want to know this is right practice or wrong and reason ws only that company has given salary to additional director so they appoint him as WTD from 1.4.2010 with two BM and subject to approval in AGM and filled form - 32 2 times.
Mitali Agarwal
(Company Secretary)
(638 Points)
Replied 13 October 2010
Then there is no problem in Additonal Director drawing remuneration since he is holding the position of WTD in the company (though subject to the approval in GM).
But if the approval of members is not granted in AGM for his appointment then the drawn remuneration will have to be returned to the company. Otherwise, there is no problem if his appointment is approved by the members in the GM.
Yogesh Bhatt
(Company Secretary)
(475 Points)
Replied 13 October 2010
any if we appoint them as WTD from AGM than in that case we can give remuneration as Additonal Director from 1. 4 . 201 to AGM.
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