Add or Remove a Director
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Add or Remove a Director
You may need to add a new director to your Company & there might be the situation where a Director is moving out of the Company. To add a director the person must be eligible as per the Articles of the Company. We at TaxRodo help you to easily perform all the procedures:
➦ Filing of Documents with ROC
We at TaxRodo will do all the filings required for Addition or Removal of Director.
➦ Preparation of Documents & Resolutions
Our team will prepare all the Documents required for Addition or Removal of Director.
➦ Getting DIN
To become a Director DIN is mandatory, we will help you in getting the DIN for the New the Director
Note down the Required Documents
✍PAN & Aadhaar of new Partner.
✍ Proof of Identity like Passport, Aadhaar, Driving License etc.
✍ Proof of Address like Aadhaar, Bank Statement, Credit Card Statement etc.
✍ Signed Affidavit from the proposed director (in case of addition of director)
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Know about Addition or Removal of Director
The Director of a company is a person elected by the shareholders for managing the affairs of the company as per the Memorandum of Association and Articles of Association of the company. Since a company is an artificial judicial person created by law, it can only act through the agency of natural persons. Thus, only living persons can be Directors of a company and the management of a company is entrusted to the Board of Directors. Appointment of Directors can be required for a company from time to time based on the requirements of the shareholders of the business.
To appoint a director, the person proposing to become a Director must obtain a digital signature certificate (DSC) and director identification number (DIN). DIN can be obtained for any person who is above the age of 18. The nationality or residency status of the DIN applicant does not matters. Hence, Indian Nationals, Non-Resident Indians, and Foreign Nationals can obtain DIN and be appointed as Director of a company in India.
A company can remove a director if he incurs any of the disqualifications specified under the Act, absents himself from board meetings over 12 months, enters into contracts or arrangements against the provisions of section 184, is disqualified by an order of a court or Tribunal, or is convicted by a court of any offence and sentenced to imprisonment for not less than six months.
1. What are the requirements of becoming a director of a company?
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.
2. What is the minimum number of Directors required for a company?
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.
3. What is the procedure for removing a Director from a company?
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.
4. What is the procedure for 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. 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.
5. Can NRIs / Foreign Nationals be a Director in a Private Limited Company?
Yes, a NRI or Foreign National can be a Director in a Private Limited Company after obtaining the Director Identification Number. However, at least one Director in the Board of Directors must be an Indian resident.