Posted By : AJAY / Published on : 06-Sep-2017 11:19 AM / View : 342 / Comment : 2
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    all resolution for appointment of managing director in private limited company. who has attained age of 70 year.
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    • Dear Ajay,

      Appointment of a person who has attained the age of seventy years may be made by passing a special resolution wherein the explanatory statement annexed to the notice for such motion shall indicate the justification for appointing such person.

      06-09-2017 / 06:07:53 AM
      • Pursuant to SCHEDULE XIII (See sections 198,269,310 and 311) CONDITIONS TO BE FULFILLED FOR THE APPOINTMENT OF A MANAGING OR WHOLE-TIME DIRECTOR OR A MANAGER WITHOUT THE APPROVAL OF THE CENTRAL GOVERNMENT PART I APPOINTMENTS "No person shall be eligible for appointment as a APPL/632/2015 managing or whole-time director or a manager (hereinafter referred to as managerial person) of a company unless he satisfies the following conditions, namely:-
        (c) he has completed the age of 25 years and has not attained the age of 70 years:

        Provided that where -
        (i) he has not completed the age of 25 years, but has attained the age of majority;
        (ii) he has attained the age of 70 years; and where his appointment is approved by a special resolution passed by the company in general meeting, no further approval of the Central Government shall be necessary for such appointment.
        (d) ........
        (e) ........

        By virtue of  section 269(2)  a person who had completed the age of 21 years and has not attained the age of 70 years was eligible to be appointed, provided his appointment was approved by the special general resolution passed by the Company in its general meeting."

        06-09-2017 / 06:24:50 AM

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