https://www.taxtmi.com/circulars?id=10856 Becoming a deemed public company under section 43A does not invalidate existing managing or whole time director appointments and Central Government approval is required only at the next appointment; indefinite appointments are treated as having a fixed tenure commencing on the date of deemed public status. If profits are inadequate, minimum remuneration requires prior Central Government approval applied for within a reasonable time. Excess loans, advances or guarantees must be recovered or withdrawn within a remedial period from the date of deemed public company status. en-us Wed, 25 Jun 1975 00:00:00 +0530 Fri, 17 Jun 2011 14:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10856 Becoming a deemed public company under section 43A does not invalidate existing managing or whole time director appointments and Central Government approval is required only at the next appointment; indefinite appointments are treated as having a fixed tenure commencing on the date of deemed public status. If profits are inadequate, minimum remuneration requires prior Central Government approval applied for within a reasonable time. Excess loans, advances or guarantees must be recovered or withdrawn within a remedial period from the date of deemed public company status. Circulars Companies Law Wed, 25 Jun 1975 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10856