Defect in Form MGT-7

    Posted By : CS Gaurav / Published on : 27-Jun-2018 01:22 AM / View : 92 / Comment : 0
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    Dear All, It seems to me that form MGT-7 is defective, because in point VIII(A) where number of Directors as on 31st March should be given. I feel its wrongly made, because if 1 of 2 directors died on 31st march is it possible to appoint a director on 31st March or very unfortunately if both 2 directors were accidently killed, then just for the sake of form MGT-7 is it possible to appoint directors on 31st March. Sec 174 says if No quorum is there for the purpose of the quorum he can appoint a Director, so one can appoint as per the provisions of the act. Then as per sec.152 Director shall give his consent to act as director, then obviously as per the spirit of the law/ intent of the law, he has to give his consent on the date when he is getting appointed(NOT on BACK DATED). IS IT possible to ask someone to give consent letter on 31st March Where 1 of the both Director was died. Is it possible to hold a person not to die on 31st march? Death is act of god, how this Form MGT-7 Would not accept when only 1 Director on the Board. Any other views are solicited.
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