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Directors are appointed by the shareholders of a Company for the management of a Company. As per new company Act 2013, a Private Limited Company is required to have a minimum of two Directors and a Limited Company is required to have a minimum of three Directors. On the other hand, a Limited Liability Partnership (LLP) has Designated Partners and Limited Liability Partnership Act, 2008 requires each LLP to have a minimum of two Designated Partners.
Changing Director or Designated Partner filling process can be complex.
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Appointment or removal of a Director or Designated Partners maybe required due to various reasons.To add a Director or Designated Partner, Digital Signature must first be obtained for the proposed Director. Once, Digital Signature is obtained, the proposed Director can be added into the Company with the consent of the shareholders. To remove a Director from a Company or LLP, it is important to ensure the Company or a LLP would have the minimum required number of Director or Designated Partner after removal of the Director. If so, then the resignation letter along with the required form must be filed to effect the resignation of the Director.
As per new company Act 2013- Board of Directors can appoint Additional Directors by filing Form DIR-12
Rajput Jain & Associates can help you file the necessary filings to add or remove a Director from your Company or add or remove a Designated Partner from you LLP.
For any information / query regarding Changing Director or Designated Partner, Contact Us
What are the requirements for becoming a Director of a Company?
A Director of a Company must be above the age of 18 and must have a Director Identification Number. The person can be an Indian National or a Foreign National. The Director of a Company has to be a natural person.
What is the minimum number of Director required for a Company?
A Private Limited Company must have a minimum of two Directors at all times. A Limited Company must have a minimum of three Directors at all times.
What is the process required for a Company of Change Directors Process?
Changing the Board
Rajput Jain & Associates can help effect changes to the Board of Directors of your Company by adding or removing Directors.
Our Experts will first understand the nature of change proposed to the Board of Directors and appraise you on the relevant procedures.
Based on the type of change proposed to the Board of Directors, our Experts will help you prepare the necessary documents that must be filed with the MCA.
Once the internal documents or resolutions are prepared, our Experts will file it with the MCA to effect the change in Board of Directors officially.
What is the maximum number of Directors allowed in a Company?
A Company is allowed to have a maximum of 15 Directors.
What are the documents required for obtaining DIN?
A Digital Signature, Signed Affidavit from the proposed Director and information about the identity and address of the Director is required.
What is the procedure for removing a Director from a Company?
A Company can remove a Director by passing an ordinary resolution in an Annual General Meeting or an Extraordinary General Meeting. Ordinary resolutions can be passed by a simple majority. Once a resolution is passed, the Company must file the Resolution along with the necessary forms to the Ministry of Corporate Affairs to remove a Director.
What is the procedure for adding a Director?
A new Director can be added to the Board of Director by passing an ordinary resolution in an Annual General Meeting or an Extraordinary General Meeting. Ordinary resolutions can be passed by a simple majority. Once a resolution is passed, the Company must file the Resolution along with the necessary forms and the Digital Signature of the Managing Director or Secretary of the Company, to the Ministry of Corporate Affairs to appoint a Director.
A company is a legal entity and a juristic person established under the Act. Therefore a company form of organization has wide legal capacity and can own property and also incur debts. The members (Shareholders/ /Directors) of a company have no liability to the creditors of a company for such debts.
To become a Director of Company, a person must be at least 18 years old and posses Director Identification Number. Foreign Nationals can also be Directors of an Indian Company.
Director Identification Number
Director Identification Number or DIN is a unique number allotted by the Ministry of Corporate Affairs for any person who is a Director of a Company or proposes to be Director of a Company.
Board of Directors
A Private Limited Company must have a minimum of two Directors and upto a maximum of 15 Directors. The Directors do not have to be shareholders. However, they have to be over the age of 18.
Adding a Director
A new Director can be added to the Board of Director by passing an ordinary resolution in an Annual General Meeting or an Extraordinary General Meeting. Ordinary resolutions can be passed by a simple majority.
Removing a Director
A Company can remove a Director by passing an ordinary resolution in an Annual General Meeting or an Extraordinary General Meeting. Ordinary resolutions can be passed by a simple majority.
Private Limited Companies are those types of companies where minimum number of members is two and maximum number is two hundred. A private limited company has the limited liability of members but at the same time it has many characteristics as those of a partnership firm. A private limited company has all the advantages of partnership namely flexibility, greater capital combination of different and diversified abilities, etc., and at the same time it has advantages of limited liability, greater stability and legal entity. In this sense, a private limited company stands between partnership and widely owned public company. Identifying marks of a private limited company are name, number of members, shares, formation, management, directors and meetings, etc., The maximum number of directors shall have to be mentioned in the Articles of Association. In the grand of privileges and exemptions, the Companies Act has drawn a distinction between an independent private company and other private company which is a subsidiary to the other public company.
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