Managing director continuity on private to public conversion may persist without fresh appointment, though other statutory restrictions apply. Section 269 does not apply to a person who immediately before conversion held office as managing director or whole time director in the private company, since no fresh appointment occurs on conversion; however, other statutory restrictions governing directors apply automatically from the date the company becomes or is deemed to be a public company and must be complied with thereafter.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Managing director continuity on private to public conversion may persist without fresh appointment, though other statutory restrictions apply.
Section 269 does not apply to a person who immediately before conversion held office as managing director or whole time director in the private company, since no fresh appointment occurs on conversion; however, other statutory restrictions governing directors apply automatically from the date the company becomes or is deemed to be a public company and must be complied with thereafter.
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