Section 317 prohibits re-appointment of MD at a period earlier than 2 years from the date of such re-appointment.
1. Does this limitaion also applies to re-appointment of WTD.
2. If a MD was appointed for a period of 5 years and after 2 years, his terms of appointment were changed and fresh resolution was passed for appointment for further 5 years, will this limitation applies. For example, A was appointed on 1 Jan 2005 for 5 years. On 1 April 2007, his terms were changes and resolution for further appointment of 5 years w.e.f 1 April 2007 was passed. Is this in compliance with the Act.
Rgds,
Ashish Gupta
CAclubindia
