Add or Remove a Director (Company)

 

As Rs. 6999 ₹ 3226

Tax Filings

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Know about directors’ change in a company

Directors are said to be the brains of the company. They are the managerial personnel who control and administer the operations of the company. The rotation of directors takes place in one way or another – either by the appointment of a new director or the resignation of an existing one. To carry out the change of directors is always to ensure an optimal combination of experts on the board for the interest of the company.

The BoD members have the authority to approve the director’s resignation, while the appointment must be with the consent of the shareholders. Whether it is appointment, expulsion or resignation, the change does not take effect until intimacy is passed on to the Ministry of Corporate Affairs.

Why changing directors is required?

Hire new talent on board

With the growth of business, strategies and alliances are developed, which require the input of each department for effective planning. In addition, with a new product line or department, an expert can be hired in a managerial position being the director of the company to lead the team. This gives the company the benefit of expertise and focused efforts.

Inability to work by existing directors

Existing directors may be unable to serve the company after a certain period due to retirement or other personal reasons. Whether it is the resignation or death of the director, the company needs to ensure that its work is unaffected. It is required to process both the exemption by the director and the appointment of a new director, if any.

Assign operational responsibility without dilution ownership

 
Directors are responsible for day-to-day operations. With the appointment of an additional director, shareholders can assign operational responsibilities to the directors, taking into account strategic control. Here, a director does not require membership to share capital, therefore, shareholders’ ownership and voting rights are not diluted with a new person on the board.

Number of directors fall under statutory limit

 
The Companies Act sets the minimum number of directors in any company, which is 2 and 3 for private and public company respectively. At any point during the company’s existence, the number of directors shall not be less than the limit. If the number falls below 2/3, the company will have to appoint a new director within 6 months.
 
 
 

Documents required for Addition or Removal of director

FAQ

Director Identification Number is issued by the Ministry of Corporate Affairs. Proof of identity and address is required to be submitted along with requisite fee while submitting the application for DIN.

The minimum required capital for initialization of Private Limited Company is 1 lakh rupees.

Yes, it is possible to use a residential property as a registered office of a Private Limited Company.

The selected name should be unique and different which will help to complete the registration process with ease.

Yes, foreign parent or holding Companies, including USA parent companies, can incorporate a subsidiary, as a 100% owned Private Limited Company in India subject to Foreign Direct Investment (FDI) Guidelines.

Any individual seeking for the directorship of the company needs to apply for Director Identification Number.

The director holds the responsibility to manage the company in a most efficient manner. As well as he should have the leadership quality as well as he should know about his responsibilities.

The registered office of the company with the same state can be done by just giving the notice within 30 days. Yes, the registered office of the company can be shifted from one state to another by following the specified procedure.

Yes, One person company can be converted into Private Limited Company. Do, I need to be physically present during the process? There is no necessity for an individual to be present at the location while registration because the entire procedure is done online.

Yes, a salaried person can become the director in private limited.

Yes, as per the companies act on anyone or any individual can become the director of the company.

Private limited company is owned by an individual or the members of the company.

As per the Companies Act 2013, the companies which come under this term needs to register themselves as a Private Limited Company.

As a director you may be personally liable for the losses and personal debts.

A Directors Loan is when you take money from your Company that isnt a salary, dividend or expense repayment and youve taken more than youve put in.

No, a Private Limited Company cannot give loans to anyone as per the sub- section 1 of section 185.

Yes, a Private limited company can accept loan from NRI.

The annual turnover should be above 20 lakh rupees.

A India limited company is a limited company incorporated under Companies Act 2013.

MOA and AOA are charter documents of the company. It defines the business objectives and rules & regulations of the company. It is drafted by our professionals and delivers to you along with Certificate of incorporation 

Basic

Inclusive all taxes

RS. 6999

Certificate of Incorporation
MOA, AOA

2 DIN, 2 DSC, PAN & TAN

(2 Indian Directors, 2 Shareholders and Authorised Capital of Rs. 1,00,000)

 
 
Medium

Inclusive all taxes

RS. 7500

Certificate of Incorporation
MOA, AOA

2 DIN, 2 DSC, PAN, TAN,

GST Registration

(2 Indian Directors, 2 Shareholders and Authorised Capital of Rs. 1,00,000)

MSME Registration

Advanced

Inclusive all taxes​

RS. 12999

Certificate of Incorporation
MOA, AOA

2 DIN, 2 DSC, PAN, TAN,

GST Registration

(2 Indian Directors, 2 Shareholders and Authorised Capital of Rs. 1,00,000)l

MSME Registration

Trademark Registration

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