Can additional director be Regularised before AGM?
Can additional director be Regularised before AGM?
Can additional directors be regularised in Extraordinary General Meeting (EGM)? No, the provisions of Section 161(1) specifically states that the additional director shall hold office till the next Annual General Meeting, therefore regularisation of additional director cannot be done in EGM.
How do you regularize an additional director?
Procedure for Regularization of Director Convene the general meeting and pass the Ordinary Resolution for the same. File the Form DIR-12 with the registrar of companies within 30 days from the date of passing of the resolution approved by the Members.
Can a director be appointed in AGM?
The following requisites of Section 160(1) must be complied with: The company must receive a notice proposing a person as a candidate for directorship, to be appointed as a director at a general meeting of the company and not necessarily only at an annual general meeting.
Who may appoint additional Directors from time to time if so authorized by articles?
Board of Directors
Board of Directors can exercise the power to appoint Additional Director only if authorized by Articles of Association. If authorized by Articles of Association, Board can appoint any person as Additional Director other than a person who fails to get appointed as Director in a general meeting.
What if additional director is not Regularised in AGM?
As per the Act,1956 if the Additional Director is not regularised in the immediate next AGM, his directorship stands withdrawn automatically means he is not a director at all. Now if you want to appoint him as a MD you need to freshly appoint and the by SR appoint him as MD.
What is Section 161 of Companies Act?
(1) The articles of a company may confer on its Board of Directors the power to appoint any person, other than a person who fails to get appointed as a director in a general meeting, as an additional director at any time who shall hold office up to the date of the next annual general meeting or the last date on which …
What if additional director is not Regularised?
What is Section 161 of companies Act?
Can a director appoint another director?
When a vacancy arises unexpectedly, the remaining directors may appoint a new director temporarily. His appointment must be confirmed by the shareholders in general meeting as soon as possible.
Can Board of directors appoint directors?
Section 149 of the Companies Act provides that only an individual can be appointed as director. Thus, no body corporate, association or firm can be appointed director of a company.
Which of the following is a disqualification of a director?
Under company law, a director can be disqualified for any of the following reasons: He is of an unsound mind and is declared so by the court. He is insolvent. He is in the process of declaring insolvency and his application is pending.
Can a company take loan from an additional director?
A declaration will be submitted by the director with the Company, that the amount given by the director is not being given out the amount obtained by him by borrowing or accepting loans. However, the company can accept any amount of loan from the director.
What is regularisation of additional director?
AGM Resolution Format for Regularisation of Additional Director In accordance with the provisions of Section 161 of the Companies Act, 2013, an Additional Director of a Company is appointed, who holds office upto the date of the ensuing Annual General Meeting (AGM).
How to regularise Additional Director as director in Pvt Ltd company?
In Pvt Ltd company not a very lengthy process. Simply send the Notice to Shareholders and auditors etc. containing Special business of regularising Additional Director as Director. Pass Ordinary Resolution and File E-Form 32 within 30 days of Resolution.
Who is required to be regularized as the director of the company?
Every Director who is appointed as the Additional Director of the Company is required to be regularized as the Director of the Company in the upcoming general meeting of the Company. Below is the format of regualarization of director at an annual general meeting of the Company.
Can We regularize an additional director appointed in board meeting?
An Additional Director appointed in Board Meeting can be regularize in coming general meeting. However, the tenure of Additional Director will be upcoming AGM. I will suggest you to regularize him as a director in general meeting otherwise you have last option to regularize him on coming AGM, if management decides.
