Changing Director or Designated Partner
Directors are appointed by the shareholders of a Company for the management of a Company. As per Companies Law of 1956, 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. Appointment or removal of a Director or Designated Partners maybe required due to various reasons. Itaxbuddy 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.
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.
Change Directors Process
Changing the Board
Itaxbuddy.com can help effect changes to the Board of Directors of your Company by adding or removing Directors.
Advisory
Our Experts will first understand the nature of change proposed to the Board of Directors and appraise you on the relevant procedures.
Documents Preparation
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.
Documents Filing
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.
Frequently Ask Questions (FAQs)
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What are the requirements for becoming a Director of a Company?Open or Close
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.
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What is the minimum number of Director required for a Company?Open or Close
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.
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What is the maximum number of Directors allowed in a Company?Open or Close
A Company is allowed to have a maximum of 15 Directors.
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What are the documents required for obtaining DIN?Open or Close
A Digital Signature, Signed Affidavit from the proposed Director and information about the identity and address of the Director is required.
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What is the procedure for removing a Director from a Company?Open or Close
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.
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What is the procedure for adding a Director?Open or Close
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.