Get finest directors on board with change of directors
Directors are the said to be brain of the company. They are the managerial personnel who control and administer the company’s operations. The rotation of directors takes place in one or the other way – either by appointment of new director or resignation of existing. Aim to carry out change of directors is always to ensure optimum combination of experts on board for interest of company.
The authority to approve the resignation of the director lies with the members of BoD whereas the appointment must be made through consent of shareholders. Whether it is an appointment, removal or resignation, the change does not take effect until the intimation is made to Ministry of corporate affairs.
Adding or removing a Director must be done with proper legal documentation, board resolution and filing of forms with Registrar of Companies. L-Man can help add or remove a Director
With the growth of business, strategies and alliances are developed, that requires inputs of each department are required for effective planning. Also, with an addition of the new product line or department, an expert to lead the team can be hired in a managerial position being director of the company. This benefits the company with specialization and focused efforts.
Directors are responsible for day-to-day operations. With the appointment of an additional director, the shareholders can assign the operational responsibilities to directors keeping strategic control in hand. Here, a director does not require subscribing to share capital, hence, the ownership and voting rights of shareholders does not dilute with a new person on Board.
The existing directors may be unable to serve the company after a certain period due to retirement or other personal reasons. Whether it is a resignation by the director or his death, the company needs to make sure that its work is unaffected. It needs to process for both discontinuations by director and appointment of a new director if any.
The Companies Act has prescribed the minimum number of directors in any company, which is 2 and 3 for Private and Public company respectively. At any time during the company’s existence, the number of directors shall not reduce below from the limit. The company must appoint a new director(s) within 6 months if the number reduces below 2/3.
Passport size photograph of the director to be appointed
Self-attested PAN card of the director to be appointed
Aadhar Card/ Voter ID/ Passport/ Driving License director to be appointed
DSC of the continuing director and director to be removed
Public Company : Minimum 3 directors all time
Private Company: Minimum 2 directors all time
One Person Company: Minimum 1 director all time
Pick a Package that best fits your requirements
Fill in our questionnaires that take less than 10 minutes
Provide basic details & documents required for registration
Make payment through secured payment gateways
Assigned Relationship Manager
Preparation of necessary documents
Preparation and filing of Application
Updated MCA master data with modified details
All it takes is 5 – 7 working days*
Consultancy for requirement of change of directors
Collection of basic Information & documents
Application for DSC (for director to be appointed)
Drafting necessary resolutions and documents
Provide documents required provided after signature
Preparation of online application
Filing of application for changing directors
Sharing master data from MCA with updated information