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Appointment of directors to be voted individually (Section: 162) Companies Act, 2013 Presented By: Shalu Saraf CS Trainee

appointment of directors to be voted individually (Sec. 162 chapter xi)

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15.4.2014

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Page 1: appointment of directors to be voted individually (Sec. 162 chapter xi)

Appointment of directors

to be voted individually(Section: 162)

Companies Act, 2013

Presented By: Shalu Saraf CS Trainee

Page 2: appointment of directors to be voted individually (Sec. 162 chapter xi)

• Sec. 162(1): At the General Meeting of Company,

• Sec. 162(2): contravention of sub-section (1) shall be void, whether or not any objection was taken when it was moved.

• Sec. 162(3): for appointment as a director,

Motion for appointment of 2 or more Persons as

Directors of the company by single resolution

Not moved unless

Proposal to move such a motion has first been agreed to at the meeting without any votebeing cast against it

Motion for approving a

person

Motion for nominating

a person

treated as a motion for his appointment

or

Page 3: appointment of directors to be voted individually (Sec. 162 chapter xi)

Comparison Companies Act, 2013 Companies Act, 1956

Section 162 Section 263

Sec. 162(1):- At the general meeting of Company

Sec. 263(1):- At the general meeting of Public company or Private Company which is subsidiary of Public company

Sec. 162(2):- contravention of sub-section (1) shall be void, whether or not any objection was taken when it was moved.

Sec. 263(2):-A resolution moved in contravention of sub-section ( 1 ) shall be void, whether or not objection was taken at the time to its being so moved: Provided that where a resolution so moved is passed, no provision for the automatic re-appointment of the director retiring by rotation in default of another appointment shall apply.