Appointment of an Additional Director
by RSJ LexComply Compliance Management - LexComplyText of the provision of Section 161(1) of Companies Act, 2013: 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 the annual
general meeting should have been held, whichever is earlier.
Key Considerations:
- 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.
- Additional
Director can be appointed by passing a resolution in Board meeting or by
circulation.
- An
additional director holds office only upto the date of the next Annual
general meeting of the company or the due date of next Annual General
Meeting, whichever is earlier.
The following procedure is to be followed for appointment of an additional
director
Sponsor Ads
Created on Dec 31st 1969 18:00. Viewed 0 times.
Comments
No comment, be the first to comment.