Is the reduction in terms of office of MD/WTD from 5 to 3 years is covered under Variartion in terms of Appointment u/s-268 .
What the term Variation mean and it includes?
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Variation in terms of appointment
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Your case is included in sec.268 of the Companies Act. It says amendment in provision of the appointment/reappointment of MD/WTD has to be approved by Central Govt.
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