Jackson is a prospective candidate for the post of Managing Director of Tirubuvani Sugars Ltd. Unfortunately, his proposed appointment could not satisfy the conditions of Schedule V of the Companies Act, 2013. Discuss if

In terms of Section 196 and 201 of the Companies Act, 2013 in case the provisions of Schedule V of the Companies Act, 2013 are not fulfilled by company, w.r.t. appointment of a Managing Director, the terms and conditions of such appointment and remuneration payable be approved by the Board of Directors at a meeting which shall be subject to approval by a resolution at the next general meeting of the company and by the Central Government. Further an application seeking approval to the appointment of a managing director as aforesaid shall be made to the Central Government, in E-Form No. MR.2, within a period of ninety days from the date of such appointment. As per Section 201 of Companies Act, 2013, before such application is made to the Central Government, there shall be issued by or on behalf of the company a general notice to the members indicating nature of application proposed to be made. The general notice shall be published in at least once in a newspaper in the principal language of the district in which, registered office of the Company is situated and at least once in English in an English newspaper circulating in that district. The copies of the notices, together with a certificate by the company as to the due publication therefore, shall be attached to the application. Therefore, Tirubuvani Sugars Limited will file an application seeking approval to the appointment of Jackson as Managing Director to the Central Government in e-Form No. MR-2.