Appointment Of Directors By The Board
Appointment of additional directors (sec 161(1))
The board of directors may, if authorized by the articles, appointment additional directors. Such additional shall hold office only up to the date of the annual general meeting.
If the AGM of the company is not held or cannot be held the person appointed as additional directors vacates his office on the last day on which AGM should have been held
It may be noted that a person who fails to get appointed as a directors in a general meeting cannot be appointment as the additional director.
If such a person, while he was the additional directors of a company, held been appointed the managing director, the latter appointment also cease simultaneously with termination of his directorship at the commencement of the annual general meeting. However, if such a person is elected as full – fledged director, by complying with sec. 160, at the AGM, he will continue to be a director a director and for the period for which his appointment as managing director has been made. This is known as regularization of additional director and in this case again forms no. DIR-12 is required too be filled with roc