The Additional Director holds the same duties and liabilities as a normal director. The provision text of Section 1 of the Companies Act, states that the additional Director shall hold office up to the date of the next annual general meeting or the last date on which the annual general meeting should have been held, whichever is earlier.
So, the appointment of an additional director shall be regularised in the next Annual General Meeting only. The additional Director holds office up to the date of the next annual general meeting or the last date on which the annual general meeting should have been held, whichever is earlier. If an additional director is not regularised as director in the ensuing annual general meeting, then he vacates the office automatically.
Even though the annual general meeting is not held, his term of additional director will expire on the last date on which the annual general meeting should have been held. No, the provisions of Section 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.
Yes, an additional Director can be appointed as Managing Director, provided the shareholders approve the appointment at a general meeting.
There is no such difference between Additional Director and Director. Additional Director is appointed by the Board of Directors whereas the Director is appointed in a general meeting. Innovation The Directors take decisions on behalf of the company and are appointed in the Company with the motive to bring in innovative ideas for development.
Process for Appointment of Additional Director. Smriti Anand. Price Standard Get Started. Basic Premium Can a Company be appointed as Director? No, a company cannot become a Director of the Company. What is the maximum number of directors which a Company can appoint? Can a Director be appointed without DIN?
No, DIN is a mandatory requirement to become a director. Can a Director hold two DIN at the same time? Which Form is required to be filed for appointment of director? Form DIR 12 is required to be filed within 30 days of appointment with attachment: A resolution passed for the appointment.
What is the qualification required for the appointment of additional director? Does the additional director needs to be the shareholder of the company? A director is generally appointed for a term of 5 years unless the contrary provided whereas the term of office of an additional director is up to the date of the next annual general meeting or the last date on which the annual general meeting should have been held, whichever is earlier.
The only difference between them is regards to their appointing authority and their term of office. Sign In. Table of Contents. Bharti Sharma Discuss Now. GSTR-4 ». List of forms providing waiver of additional fee as per Circular no. Key Developments in Companies Act read more. Detailed format of a management representation letter read more. Read Order AGM date is extended by 3 months read more. Annual Return: Section 92 of Companies Act, read more.
Points to be Remembered in case of Company Incorporation read more. Due Date Compliance Calendar Nov read more. Such co-option will be governed by the provisions as provided under Section 1 subject to the relevant regulations under the articles of association of the company. Generally, this is done by the Board of Directors, considering the necessity of a Director on the Board taking into account the recent business developments and requiring his expertise to advise the Board appropriately on the matter.
Any person other than a person who fails to get appointed as a director in a general meeting can be appointed as an additional director by the board of directors at any point of time. The person shall not be disqualified to be appointed as a director as per the provisions of Section of the Companies Act,
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