Office of profit: appointing a managing director or related entity as sole selling agent requires a company's special resolution. Appointment of a company's sole selling agent can constitute an office of profit when the appointee is the managing director, a director's relative, a firm in which a director or relative is a partner, or a private company in which a director is a director or member; in those cases the company must obtain shareholder consent by passing a special resolution to approve the appointment.
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.
Office of profit: appointing a managing director or related entity as sole selling agent requires a company's special resolution.
Appointment of a company's sole selling agent can constitute an office of profit when the appointee is the managing director, a director's relative, a firm in which a director or relative is a partner, or a private company in which a director is a director or member; in those cases the company must obtain shareholder consent by passing a special resolution to approve the appointment.
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