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.