Dear Sir,
We are private ltd. Compamy , we have appointed Managing Director in August 2013 , for the period of 2 years and now his appointment is due for renewal.
I understand that section 203 is not applicable to us and Pvt. Ltd. Co. are exempted from the purview of section 196 (4) & (5) ,through the exemption notification dated 5th June 2015.
We are 100% subsidiary of the japanese Company and our parent company has already confirm the re-appointment in their Board Meeting at HQ.
In such case , can we re-appoint MD in Board Meeting and in ensuing AGM regularise his appointment. Will it be a right process , as this is just re-appointment.
Regards,
Gargi A. Ranade
C. S.
CAclubindia
