Hi,
Four of us started a private limited company. However, the company didn't go anywhere, and one of the directors has left the country (India). I would like to leave the board of directors and free myself from any liabilities arising out of this (currently there are none). What is the process to do so? Can this be done with only three of us present?
Regards,
SXerR
From India, Bangalore
Four of us started a private limited company. However, the company didn't go anywhere, and one of the directors has left the country (India). I would like to leave the board of directors and free myself from any liabilities arising out of this (currently there are none). What is the process to do so? Can this be done with only three of us present?
Regards,
SXerR
From India, Bangalore
Dear Friend,
Getting free from the post of Board of Directors is not a normal procedure. It will depend on several things. Initially, it depends on your share, and the other 3 directors agreeing to and finalizing your exit in a board meeting, briefing proper causes to leave and holding the rest of the liabilities on themselves. They will pass a resolution in writing, and a copy of the resolution will be sent to the Ministry of Commerce Affairs (MCA) through your Chartered Accountant, as well as other departments like Sales Tax/Service Tax (depending on where the company is registered according to the nature of the business).
If the rest of the directors are in agreement, then you may leave. For a clearer understanding, sit with your Chartered Accountant with your company's Memorandum of Association (MOA); he will provide better guidance.
Best Wishes.
Thanks,
Manish Srivastava
ISO Consultant & HR
From India, Lucknow
Getting free from the post of Board of Directors is not a normal procedure. It will depend on several things. Initially, it depends on your share, and the other 3 directors agreeing to and finalizing your exit in a board meeting, briefing proper causes to leave and holding the rest of the liabilities on themselves. They will pass a resolution in writing, and a copy of the resolution will be sent to the Ministry of Commerce Affairs (MCA) through your Chartered Accountant, as well as other departments like Sales Tax/Service Tax (depending on where the company is registered according to the nature of the business).
If the rest of the directors are in agreement, then you may leave. For a clearer understanding, sit with your Chartered Accountant with your company's Memorandum of Association (MOA); he will provide better guidance.
Best Wishes.
Thanks,
Manish Srivastava
ISO Consultant & HR
From India, Lucknow
Hello, You needs to take an advice from Company secretary in this matter. Regards, Ashish
From India, Pune
From India, Pune
1. Take resignation from the director.
2. Hold the board meeting.
3. Pass the resolution to discontinue the director.
4. Authorize any director or secretary to file Form 32 BR.
5. File Form 32 within 30 days.
It is not necessary to approve the resignation. Once it is tendered, he is automatically relieved from his duties.
Ramakant
From India, Pune
2. Hold the board meeting.
3. Pass the resolution to discontinue the director.
4. Authorize any director or secretary to file Form 32 BR.
5. File Form 32 within 30 days.
It is not necessary to approve the resignation. Once it is tendered, he is automatically relieved from his duties.
Ramakant
From India, Pune
Dear SxerR,
The relevant information is provided in the attached notes. I'm not sure whether yours is a registered company with the Registrar of Companies (RoC) under the Companies Act, 1956, or otherwise. Do you hold shares? If so, to what extent? Hope the attached notes will be of some help to you. If you need any other information, please continue the thread.
From India, Bangalore
The relevant information is provided in the attached notes. I'm not sure whether yours is a registered company with the Registrar of Companies (RoC) under the Companies Act, 1956, or otherwise. Do you hold shares? If so, to what extent? Hope the attached notes will be of some help to you. If you need any other information, please continue the thread.
From India, Bangalore
Dear All, Greetings!! Could you please tell me what is the penalty for not displaying abstracts inside the establishment. Thanks Ramesh Chandra
From India, Delhi
From India, Delhi
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