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SEC 266

pawan (student) (77 Points)

21 January 2010

Q1) HOW AN INTENDED COMPANY ISSUE A PROSPECTUS BEFORE INCORPORATION AS STATED IN LINE 4 OF SEC 266?

Q2) SEC 264(2)(a) says a person other than a director .....................................

my query is whether a direc who is re -apptd after retirement by rotation includes both re-app immediately after ret by rot and re -appd after at any succeeding yr after retirement by rotation?

Q3)SEC 264(2)(b)-if an add or alt dir is re-apptd as alt or add dir respectively then in such a case whether they have to file their consent to roc or not ?

regards

pawan

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2 Replies

CourseCart.in (Mentor at SHAYVIDZ Academy) (3756 Points)
Replied 22 January 2010

Originally posted by : pawan
	HI Q1) HOW AN INTENDED COMPANY ISSUE A PROSPECTUS BEFORE INCORPORATION AS STATED IN LINE 4 OF SEC 266? Q2) SEC 264(2)(a) says a person other than a director ..................................... my query is whether a direc who is re -apptd after retirement by rotation includes both re-app immediately after ret by rot and re -appd after at any succeeding yr after retirement by rotation? Q3)SEC 264(2)(b)-if an add or alt dir is re-apptd as alt or add dir respectively then in such a case whether they have to file their consent to roc or not ? regards pawan

Dear Pawan,

1. unable to understand this query.

2. No need to file consent with the ROC if a director is re-appointed after retirement, whether by rotation or otherwise (i.e. on expiry of term).

3. No need to file consent with the ROC if additional director, alternate director or a person filling a casual vacancy when appointed as a director.

Adarsh

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CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
Replied 22 January 2010

Dear Pawan,

Section 264 provides that any director who retires by rotation and reappointed immediately on the expiry of his term of office shall not required to give his consent to act as director. And any additional or alternate director or a director appointed to fill the casual vacancy, appointed as director or reappointed a an additional or alternate director immediately on the expiry of his term of office, the consent is not required. Otherwise the consent is also required within 30 days of his appointed to be filed with ROC as an attachment in form 32. However this sectiond does not apply to Private Company.