Change of Director/Partner

Change of Director/Partner

Appointment or removal of a Director or Designated Partners 


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 may be required due to various reasons. AdroitCorporation.in 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.

Advantages
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.
Minimum Requirements
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 up to 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.

FAQ


What are the requirement for becoming a Director of a Company?
what is the minimum number of Director required for a company?
What is the maximum number of Directors allowed in a company?
What are the documents required for obtaining DIN?
What is the procedure for removing a Director from a Company?
What is the procedure for adding a Director?