Press Information Bureau

Government of India

Ministry of Corporate Affairs

08-September-2011 14:50 IST

Cases of Appointment of MD and Directors

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that it is not a fact that large number of cases under Companies Act, 1956 regarding appointment / re-appointment schedule of Managing Directors or whole time Director / Managers are pending for a long time.

Replying to a written question about the details of the cases disposed off as on 31.03.2011 and the steps taken by the Government to expedite disposal of the cases which have been pending for over a year the minister said the number of applications to be disposed off by the Ministry regarding appointment / re-appointment of Managing Directors or whole time Director / Managers u/s 269, 198 / 309, 310 of the Companies Act, 1956 as on 31/03/2011 was 219. As on 05/09/2011, there is only one case pending over a year due to non-submission of requisite information by the company and the company has been requested to furnish the same.

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ST/-

Appointment of Managing Directors: Ministry reports nearly all applications processed; only a single case delayed pending company information. The Ministry of Corporate Affairs reported that applications for appointment and re appointment of Managing Directors and whole time directors under the Companies Act have been largely processed; only one application remained pending beyond a year owing to non submission of requisite information, and the company has been asked to furnish the same.