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Validity of appointment of Managing Director- One Public Limited Unlisted company has re-appointed its Managing Director for 3 years in September 2013. The appointment is valid upto August, 2016 as per The Companies Act, 1956. Is re-appointment of Managing Director valid upto August, 2016 under The Companies Act, 2013. What are the compliances need to comply under The Companies Act, 2013 for validity of re-appointment of Managing Director upto August, 2016. Please Clarify.

KMP

Posted By: Sunil kumar agrawal 9 year(s) ago

This question has been closed if you want to answer,you have to re-open.

Expert Ankit Singhi

In our opinion appointment under old Act is valid. Further, kindly refer General Circular No. 32/2014 issued by MCA which provides for transition period for resolution passed under Old Act (not clear whether the transition period given in circular is also applicable on resolution for appointment passed under old Act).

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