{"id":125,"date":"2015-06-24T12:35:31","date_gmt":"2015-06-24T12:35:31","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=125"},"modified":"2021-12-13T12:25:49","modified_gmt":"2021-12-13T06:55:49","slug":"update-on-new-companies-act-2013","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/update-on-new-companies-act-2013\/","title":{"rendered":"appointment of the directors under companies act 2013"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d5ee6a75389\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d5ee6a75389\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/update-on-new-companies-act-2013\/#ALL_ABOUT_THE_APPOINTMENT_OF_THE_DIRECTORS\" title=\"ALL ABOUT THE APPOINTMENT OF THE DIRECTORS\">ALL ABOUT THE APPOINTMENT OF THE DIRECTORS<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/update-on-new-companies-act-2013\/#QUALIFICATION_OF_DIRECTOR\" title=\"QUALIFICATION OF DIRECTOR\">QUALIFICATION OF DIRECTOR<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/update-on-new-companies-act-2013\/#DISQUALIFICATION_OF_DIRECTORS\" title=\"DISQUALIFICATION OF DIRECTORS\">DISQUALIFICATION OF DIRECTORS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/update-on-new-companies-act-2013\/#REQUIREMENT_OF_DIRECTOR\" title=\"REQUIREMENT OF DIRECTOR\">REQUIREMENT OF DIRECTOR<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/update-on-new-companies-act-2013\/#PROCEDURE_FOR_THE_APPOINTMENT_OF_DIRECTOR\" title=\"PROCEDURE FOR THE APPOINTMENT OF DIRECTOR\u00a0\">PROCEDURE FOR THE APPOINTMENT OF DIRECTOR\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/update-on-new-companies-act-2013\/#WAYS_OF_APPOINTMENT_OF_DIRECTOR\" title=\"WAYS OF APPOINTMENT OF DIRECTOR\u00a0\">WAYS OF APPOINTMENT OF DIRECTOR\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/update-on-new-companies-act-2013\/#DOCUMENTS_REQUIRED_FOR_APPOINTMENT\" title=\"DOCUMENTS REQUIRED FOR APPOINTMENT\">DOCUMENTS REQUIRED FOR APPOINTMENT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/update-on-new-companies-act-2013\/#RESIGNATION_OF_THE_DIRECTOR\" title=\"RESIGNATION OF THE DIRECTOR\">RESIGNATION OF THE DIRECTOR<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/update-on-new-companies-act-2013\/#LIST_OF_FORMS_TO_BE_FILED_WITH_ROC_FOR_THE_PURPOSE_OF_DIRECTOR\" title=\"LIST OF FORMS TO BE FILED WITH ROC FOR THE PURPOSE OF DIRECTOR\u00a0\">LIST OF FORMS TO BE FILED WITH ROC FOR THE PURPOSE OF DIRECTOR\u00a0<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/update-on-new-companies-act-2013\/#UPDATE_ON_NEW_COMPANIES_ACT_2013\" title=\"UPDATE ON NEW COMPANIES ACT 2013\">UPDATE ON NEW COMPANIES ACT 2013<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/update-on-new-companies-act-2013\/#For_all_companies\" title=\"For all companies:-\">For all companies:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/update-on-new-companies-act-2013\/#For_Public_Companies\" title=\"For Public Companies:-\">For Public Companies:-<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"ALL_ABOUT_THE_APPOINTMENT_OF_THE_DIRECTORS\"><\/span><span style=\"color: #000080;\">ALL ABOUT THE APPOINTMENT OF THE DIRECTORS<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong><span style=\"color: #000080;\">BRIEF INTRODUCTION<\/span><\/strong><\/p>\n<p>Appointment of\u00a0Directors\u00a0shall be made according to the Articles of Association (AOA) or as per the provisions of section 152 of the Companies Act 2013.<\/p>\n<p>In general, the subscribers to the MOA shall be deemed to be the directors of the corporate entity. Some of the categories of directors, being provided under the Companies Act 2013, are as follows &#8211;<\/p>\n<ul>\n<li>Women directors are there must be one woman within the board of directors where the corporate entity has paid-up capital of Rs 100 crore or more or features a turnover of Rs 300 crore or more.<\/li>\n<li>Independent Director under section 149(6).<\/li>\n<li>Small Shareholder Director, being elected by small shareholders of the entity, under section 151.<\/li>\n<li>Resident director under section 149(3) is required in a very company that has lived for 182 days in India within the previous year.<\/li>\n<li>Additional director under section 161.<\/li>\n<li>Alternative directors under section 161(2) may be appointed in the absence of the most director for a minimum of three months and above.<\/li>\n<li>Nominee Directors under section 161(3) are appointed by a 3rd party or by the Central Government in the case of mismanagement or oppression.<\/li>\n<\/ul>\n<table style=\"height: 317px;\" width=\"953\">\n<tbody>\n<tr>\n<td><span style=\"color: #000080;\"><strong>TYPE OF COMPANY \u00a0<\/strong><\/span><\/td>\n<td><span style=\"color: #000080;\"><strong>APPOINTMENT MADE<\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td><strong>PUBLIC COMPANY OR A PRIVATE COMPANY AND SUBSIDIARY OF A PUBLIC COMPANY<\/strong><\/td>\n<td>2\/3 OF THE TOTAL NUMBER OF DIRECTORS ARE APPOINTED BY THE SHAREHOLDERS AND THE REMAINING 1\/3 APPOINTMENT IS AS PER ARTICLES OF ASSOCIATION. WHERE THE AOA IS SILENT, THE SHAREHOLDERS ARE REQUIRED TO APPOINT THE REMAINING DIRECTORS.<\/td>\n<\/tr>\n<tr>\n<td><strong><a href=\"https:\/\/www.caindelhiindia.com\/blog\/why-needed-to-register-a-private-limited-company\/\">PRIVATE COMPANY<\/a> (NOT A SUBSIDIARY OF A PUBLIC COMPANY)<\/strong><\/td>\n<td>ARTICLES OF ASSOCIATION PRESCRIBE THE MANNER OF APPOINTMENT OF ANY OR ALL THE DIRECTORS. IN THE ABSENCE OF AOA,\u00a0DIRECTORS CAN BE APPOINTED BY THE SHAREHOLDERS.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><span class=\"ez-toc-section\" id=\"QUALIFICATION_OF_DIRECTOR\"><\/span><span style=\"color: #000080;\">QUALIFICATION OF DIRECTOR<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>As per the Companies Act 2013, no specific qualifications has been provided in respect of the appointment of the Directors in an entity.\u00a0 The public limited company&#8217;s corporate affairs are governed by the board of directors. They are in charge of coming up with plans, policies, and strategies.<\/li>\n<li>The Memorandum of Association makes no mention of a director&#8217;s qualifications. The Articles of Association specify the qualifications. The Companies Act does not provide any precise qualifications for directors. However, the directors must meet the requirements: Directors must acquire a specific number of shares.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"DISQUALIFICATION_OF_DIRECTORS\"><\/span><span style=\"color: #000080;\">DISQUALIFICATION OF DIRECTORS<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Under section 164 of the act, the subsequent disqualifications are provided:<\/p>\n<p>\u2022 Unsound mind person<br \/>\n\u2022 Undischarged insolvent<br \/>\n\u2022 Convicted by the court<br \/>\n\u2022 Order of disqualifying\u00a0elapsed\u00a0the court<br \/>\n\u2022 Not paying any\u00a0necessitate\u00a0the shares of\u00a0the corporate entity<br \/>\n\u2022 Convicted for an offence<br \/>\n\u2022 Not filled any financial statements<br \/>\n\u2022 Failed to repay the deposits<br \/>\n\u2022 Barred by law<\/p>\n<h3><span class=\"ez-toc-section\" id=\"REQUIREMENT_OF_DIRECTOR\"><\/span><span style=\"color: #000080;\">REQUIREMENT OF DIRECTOR<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The company requires a maximum of 15 directors on the board of the corporate entity, whereas can the corporate entity can increase the number of directors by passing a special resolution in AOA.<\/p>\n<table style=\"height: 258px;\" width=\"971\">\n<tbody>\n<tr>\n<td><span style=\"color: #000080;\"><strong>COMPANY\u00a0\u00a0<\/strong><\/span><\/td>\n<td><span style=\"color: #000080;\"><strong>NUMBER OF DIRECTORS<\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td><strong>PUBLIC COMPANY \u00a0<\/strong><\/td>\n<td><strong>MINIMUM NUMBER OF 3 DIRECTORS<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>PRIVATE COMPANY \u00a0<\/strong><\/td>\n<td><strong>MINIMUM NUMBER OF 2 DIRECTORS\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>ONE PERSON COMPANY \u00a0<\/strong><\/td>\n<td><strong>\u00a0MINIMUM ONE DIRECTOR<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><span class=\"ez-toc-section\" id=\"PROCEDURE_FOR_THE_APPOINTMENT_OF_DIRECTOR\"><\/span><span style=\"color: #000080;\">PROCEDURE FOR THE APPOINTMENT OF DIRECTOR\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A director may be one that is appointed to perform the duties and functions of a corporation as per the provisions of the act of 2013. The procedure for the appointment of director has been provided under sections 152 to 159 of the Companies Act 2013 and the same are as follows &#8211;<\/p>\n<ul>\n<li>Section 153-\u00a0the appliance\u00a0for the allotment of the Director\u00a0identification number\u00a0(DIN)\u00a0needs to\u00a0be made by the person\u00a0aspiring to\u00a0be a director of\u00a0an organization\u00a0before the central government\u00a0together with\u00a0the depositing of the prescribed fees.<\/li>\n<li>A Section 154- The central government then allot the DIN (Director Identification Number) in favor of the applicant within one month of the receiving of the allotment application made.<\/li>\n<li>Section 155- The applicant to whom DIN has already been allotted, shall now use\u00a0or possess another Director Identification Number.<\/li>\n<li>Section 156-\u00a0The existing\u00a0directors\u00a0are required to\u00a0disclose their DIN (Director Identification Number), which has already been obtained by them from the central government.<\/li>\n<li>The director is required to intimate said DIN, to\u00a0the corporate entity\u00a0or\u00a0the businesses\u00a0wherein\u00a0he&#8217;s\u00a0a director.<\/li>\n<li>Section 157- The corporate entity is required to inform about the DIN (Director Identification Number) of all the Directors to Registrar of Companies, or the authorized person, and the same shall be reported within 15 days from receiving the intimation. Prescribed fees are required to be submitted along with the report, as provided under section 403.<\/li>\n<li>On the failure of the intimation within 15 days the corporate entity must pay a fine for Rs 25,000 twenty-five thousand which can reach Rs 1,00,000 one lakh.<\/li>\n<li>Section 159- If any of the provisions under sections 152, 155, and 156 haven&#8217;t been followed then a fine of Rs 50,000 fifty thousand should be imposed or could also be accountable for the imprisonment for the six months. In case of continuation of contravention, a penalty of Rs 500 for each day of default, shall be imposed till the contravention continues.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"WAYS_OF_APPOINTMENT_OF_DIRECTOR\"><\/span><span style=\"color: #000080;\">WAYS OF APPOINTMENT OF DIRECTOR\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The appointment of the Directors of a corporation is done by any one of the subsequent ways:<\/p>\n<ul>\n<li>In accordance with the articles of association in the case of first directors: The subscribers of the MOA are appointed as the primary directors of a newly formed. If not, then the subscribers are deemed to be the primary directors and hold office up to this point of the first annual general meeting of the corporate entity.<\/li>\n<li>By the corporate entity in annual general meeting: under section 255 of the company\u2019s act provides that the directors of a corporation is appointed at its annual general meetings<\/li>\n<li>The board of directors: the overall power to appoint the Directors is thru the overall meeting of the members or shareholders but in a few cases, even the board of directors can appoint new directors.<\/li>\n<li>By lenders of the Entity: The articles may also authorize the\u00a0bank, debenture holders, and a financial corporation to appoint their nominated candidates in the Board of Directors.<\/li>\n<li>However, the said number of candidates so appointed must not\u00a0exceed\u00a01\/3rd of the total strength of the Board.<\/li>\n<li>By the central government: the central government has the ability to appoint the Directors to avoid oppression or mismanagement and therefore the appointment of the Directors is also made for the fundamental measure, not beyond three years at a time.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"DOCUMENTS_REQUIRED_FOR_APPOINTMENT\"><\/span><span style=\"color: #000080;\">DOCUMENTS REQUIRED FOR APPOINTMENT<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>The Company\u00a0has got to\u00a0call the\u00a0board meeting\u00a0and pass the resolution to appoint\u00a0the extra\u00a0director\u00a0in keeping with\u00a0the AOA of\u00a0the corporate entity\u00a0if no clause is mentioned then in accordance with provisions of section 161 of the act.<\/li>\n<li>All the proposed directors shall be in receipt of a DIN (Director Identification Number).<\/li>\n<li>Form DIR 12 is filled together with the letter of the appointment so submission of the documents by the director within 30 days.<\/li>\n<li>The consent form DIR-2 should tend in writing for willingness to be a director.<\/li>\n<li>The appointing director\u00a0should\u00a0provide Form DIR 8 intimating that\u00a0he&#8217;s\u00a0not disqualified under the provisions of section 164(2) of the act.<\/li>\n<li>After the appointment, the director has got to give Form MBP-1 in compliance with section 184(1) read with Rule 9(1) of Companies (Meeting of Board and Its Powers) Rules 2014.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"RESIGNATION_OF_THE_DIRECTOR\"><\/span><span style=\"color: #000080;\">RESIGNATION OF THE DIRECTOR<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>A Director of a corporation can give resignation from the office by giving a notice in writing to the board of the corporate entity under section 168(1) of the Companies Act 2013.<\/li>\n<li>After this,\u00a0the corporate entity\u00a0will take\u00a0the subsequent\u00a0steps\u00a0to get rid of\u00a0the concerned name from the register of Directors on the MCA Portal [2].<\/li>\n<li>The Board members of the corporate entity will hold a committee meeting by providing seven days of clear notice. a transparent notice for 21 days issued by the corporate entity excludes the day on which the notice was sent and received.<\/li>\n<li>In the\u00a0board meeting, the Board members will discuss\u00a0then\u00a0decide whether\u00a0to just accept\u00a0the resignation or not.<\/li>\n<li>Where the board accepts such resignation of the director, they shall pass a Board resolution accepting the resignation within the following format:<\/li>\n<\/ul>\n<p style=\"padding-left: 80px;\">\u201cResolved that the resignation of Mr. XYZ is accepted with immediate effect.<\/p>\n<p style=\"padding-left: 80px;\">\u201cFURTHER RESOLVED \u201cthat Mr. XYZ has performed rather well during his\/her tenure because of the director of the corporate entity.<\/p>\n<p style=\"padding-left: 80px;\">\u201cRESOLVED FURTHER\u201d that the concerned director who is affirming his\/her resignation is hereby authorized to try and do all deeds, acts and things which are necessary for the resignation procedure of the director from the Directorship position of the corporate entity.<\/p>\n<ul>\n<li>After the resolution is being passed, the outgoing director will file the shape DIR-11 together with the Board Resolution, proof of the delivery of the resignation letter, and a replica of the resignation letter.<\/li>\n<li>The Form\u2013 DIR-12\u00a0is required\u00a0to be filed\u00a0during this\u00a0case. DIR-11 shall be filed by the Director, however, the DIR-12 is required to be filed by\u00a0the corporate entity\u00a0itself, and both the forms be filed with the ROC (Registrar of the Companies)\u00a0along with\u00a0the Resignation letter\u00a0and therefore the\u00a0Board Resolution.<\/li>\n<li>In the tip, the name of the concerned director\u2019s data has got to be far away from the corporate entity records who has given his\/her resignation within the MCA (Ministry of Corporate entity Affairs) website<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"LIST_OF_FORMS_TO_BE_FILED_WITH_ROC_FOR_THE_PURPOSE_OF_DIRECTOR\"><\/span><span style=\"color: #000080;\"><strong>LIST OF FORMS TO BE FILED WITH ROC FOR THE PURPOSE OF DIRECTOR\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table style=\"height: 1085px;\" width=\"938\">\n<tbody>\n<tr>\n<td width=\"50\"><span style=\"color: #000080;\"><strong>S. NO.<\/strong><\/span><\/td>\n<td width=\"152\"><span style=\"color: #000080;\"><strong>FORM NO.<\/strong><\/span><\/td>\n<td width=\"452\"><span style=\"color: #000080;\"><strong>PURPOSE<\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td width=\"50\"><strong>1<\/strong><\/td>\n<td width=\"152\">DIR-3<\/td>\n<td width=\"452\">APPLICATION IN RESPECT OF ALLOTMENT OF DIRECTOR IDENTIFICATION NUMBER OF THE PROPOSED DIRECTOR.<\/td>\n<\/tr>\n<tr>\n<td width=\"50\"><strong>2<\/strong><\/td>\n<td width=\"152\">DIR-6<\/td>\n<td width=\"452\">INTIMATION OF CHANGE IN PARTICULARS OF DIRECTOR TO BE GIVEN TO THE CENTRAL GOVERNMENT<\/td>\n<\/tr>\n<tr>\n<td width=\"50\"><strong>3<\/strong><\/td>\n<td width=\"152\">DIR-5<\/td>\n<td width=\"452\">APPLICATION FOR SURRENDER OF DIRECTOR IDENTIFICATION NUMBER<\/td>\n<\/tr>\n<tr>\n<td width=\"50\"><strong>4<\/strong><\/td>\n<td width=\"152\">DIR-3C<\/td>\n<td width=\"452\">INTIMATION REGARDING THE DIN, BY THE COMPANY TO THE REGISTRAR OF COMPANIES.<\/td>\n<\/tr>\n<tr>\n<td width=\"50\"><strong>5<\/strong><\/td>\n<td width=\"152\">DIR-3 KYC\/DIR-3 KYC WEB<\/td>\n<td width=\"452\">APPLICATION FOR KYC OF DIRECTOR<\/td>\n<\/tr>\n<tr>\n<td width=\"50\"><strong>6<\/strong><\/td>\n<td width=\"152\">DIR-12<\/td>\n<td width=\"452\">PARTICULARS OF APPOINTMENT OF DIRECTORS AND THE KMPS AND THE CHANGES AMONG THEM<\/td>\n<\/tr>\n<tr>\n<td width=\"50\"><strong>7<\/strong><\/td>\n<td width=\"152\">DIR-2<\/td>\n<td width=\"452\">CONSENT GIVEN BY A PERSON TO ACT AS THE DIRECTOR OF THE COMPANY<\/td>\n<\/tr>\n<tr>\n<td width=\"50\"><strong>8<\/strong><\/td>\n<td width=\"152\">DIR-9<\/td>\n<td width=\"452\">DISQUALIFICATION OF DIRECTORS TO BE INTIMATED TO THE REGISTRAR BY THE COMPANY<\/td>\n<\/tr>\n<tr>\n<td width=\"50\"><strong>9<\/strong><\/td>\n<td width=\"152\">DIR-10<\/td>\n<td width=\"452\">APPLICATION FORM IN RESPECT OF REMOVAL OF DISQUALIFICATION OF THE DIRECTORS.<\/td>\n<\/tr>\n<tr>\n<td width=\"50\"><strong>10<\/strong><\/td>\n<td width=\"152\">DIR-8<\/td>\n<td width=\"452\">INTIMATION BY DIRECTOR OF HIS DISQUALIFICATIONS AND INTERESTS<\/td>\n<\/tr>\n<tr>\n<td width=\"50\"><strong>11<\/strong><\/td>\n<td width=\"152\">DIR-11<\/td>\n<td width=\"452\">NOTICE OF RESIGNATION TO THE REGISTRAR BY THE DIRECTOR HIMSELF<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"color: #000080;\"><strong>CONCLUSION<\/strong><\/span><\/p>\n<ul>\n<li>The appointment of the director and its procedure\u00a0is\u00a0made easy with\u00a0the assistance\u00a0of the team of experts at RJA.<\/li>\n<li>Registration for the Appointment and Resignation of the Directors are assisted and verified by the RJA and that we are able to serve you likewise.<\/li>\n<li>The resignation\u00a0is additionally\u00a0provided to\u00a0the Directors\u00a0and\u00a0is additionally\u00a0managed and guided by\u00a0the corporate entity.<\/li>\n<li>Directors play\u00a0an awfully\u00a0significant role\u00a0within the\u00a0functioning and growth of\u00a0the corporate entity\u00a0and exercise powers that are in their capacity.\u00a0they&#8217;re\u00a0the agents of\u00a0the corporate entity.<\/li>\n<li>This famous quote, &#8220;With great powers comes great responsibility&#8221;, fits well within the case of directors of an organization. must accommodate all the statutory obligations applicable to them so the corporate entity doesn&#8217;t have to suffer due to them being non-compliant.<\/li>\n<\/ul>\n<h4 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"UPDATE_ON_NEW_COMPANIES_ACT_2013\"><\/span><span style=\"color: #000080;\"><strong><em>UPDATE ON NEW COMPANIES ACT 2013<\/em><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/06\/2.png\" rel=\"attachment wp-att-1864\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1864\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/06\/2-300x154.png\" alt=\"2\" width=\"956\" height=\"490\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/06\/2-300x154.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/06\/2-768x394.png 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/06\/2.png 1006w\" sizes=\"(max-width: 956px) 100vw, 956px\" \/><\/a><\/p>\n<p>The New Companies Act of 2013, has made major changes in the corporate laws of India. Among the major changes introduced by the new Act are the followings:-<\/p>\n<h4 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"For_all_companies\"><\/span><span style=\"color: #993300;\"><strong>For all companies:-<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #993300;\"><strong>Resident Director: <\/strong><\/span>Every Company must have a director who stayed in India for a total period of 182 days or more in a previous calendar year.<\/li>\n<li><span style=\"color: #993300;\"><strong>Company Letterheads<\/strong>,<\/span> bills, or other official communications must have the full name, address of its registered office, Corporate Identity Number (21 digit number allotted by Government), Telephone number, fax number, email id, website address if any.<\/li>\n<li><span style=\"color: #993300;\"><strong>Accounting Year<\/strong>:<\/span>\u00a0 Every company shall follow uniform accounting \/ financial year i.e. 1st April -31st March. Those companies which follow a different financial year have to align their accounting year to 1st April to 31st March within 2 years.<\/li>\n<li><span style=\"color: #993300;\"><strong>Articles of Association:<\/strong><\/span> In the next General Meeting, it is desirable to adopt Table F as a standard set of Articles of Association of the Company with relevant changes to suit the requirements of the company.<\/li>\n<li><span style=\"color: #993300;\"><strong>Memorandum of loans Association:<\/strong><\/span> Every copy of the Memorandum of Association and Articles of Association issued to members should contain a copy of all resolutions\/agreements that are required to be filed with the Registrar.<\/li>\n<li><span style=\"color: #993300;\"><strong>Loans to Director:<\/strong> <\/span>The Company cannot advance any kind of loan\/guarantee\/security to any director, director of holding company, his partner, his relative, Firm in which he or his relative is partner, private limited in which he is director or member or any bodies corporate whose 25% or more of total voting power or board of directors is controlled by him.<\/li>\n<li><span style=\"color: #993300;\"><strong>Disqualification of Director:<\/strong><\/span> All existing directors must have Directors Identification Number (DIN) allotted by the central government. Directors who already have DIN need not take any action. Directors not having DIN should initiate the process of getting DIN allotted to them and inform companies. The Company, in turn, has to inform the registrar.<\/li>\n<\/ul>\n<h4 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"For_Public_Companies\"><\/span><span style=\"color: #993300;\"><strong>For<\/strong> <strong>Public Companies:-<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #993300;\"><strong>Appointment of Statutory Auditors: <\/strong><\/span>Every Listed company can appoint an individual auditor for 5 years and a firm of auditors for 10 years. This period of 5 \/ 10 years commences from the date of their appointment.<\/li>\n<li>Therefore, those companies have reappointed their statutory auditors for more than 5 \/ 10 years, have to appoint another auditor in Annual General Meeting for year 2014.<\/li>\n<li><span style=\"color: #993300;\"><strong>Woman Director: <\/strong><\/span>Every Listed Company \/Public Company with paid up capital of Rs 100 Crores or more \/ Public Company with turnover of Rs 300 Crores or more shall have at least one Woman Director.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ALL ABOUT THE APPOINTMENT OF THE DIRECTORS BRIEF INTRODUCTION Appointment of\u00a0Directors\u00a0shall be made according to the Articles of Association (AOA) or as per the provisions of section 152 of the Companies Act 2013. In general, the subscribers to the MOA shall be deemed to be the directors of the corporate entity. Some of the categories &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[2846,10000,2845,2844],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/125"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=125"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/125\/revisions"}],"predecessor-version":[{"id":19714,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/125\/revisions\/19714"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}