Resignation of Director
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. Director in a company may need to resign or may want to remove a Director for any reasons under the Board of Directors. In such cases, a Director can resign or be removed by filing the intimation of change of Director with MCA.
The procedure for resignation of director and removal of Director by the Board or Shareholders may vary. A Director can resign from a company by giving a notice in writing to the company and the Board is required to file the necessary filings with MCA within 30 days. A Director can also send a copy of the resignation letter to the ROC directly by filing a different set of forms.
BusinessCrow is the market leader in company registration services in India, offering a variety of BusinessCrow is the leading business services platform in India, offering a variety of services like company registration, trademark filing, GST registration, income tax filing and more. BusinessCrow can help you effect resignation of director of a company. The average time taken to file for resignation of director is about 10-15 working days, as subject to government processing time and client document submission.
Types of Director in a Company
Managing Director is a Director, who by virtue of Articles of Association of a company or an agreement with the company or a resolution passed in its general meeting, or by its Board of Directors, is entrusted with substantial powers of managed of affairs of the company.
Executive Director is a Director, who is in full-time employment of the company. Hence, executive directors are deeply involved with the management of the company and managing affairs of the company.
Ordinary Director means a simple Director who attends the Board Meetings of a company and participates in the matters put before the Board of Directors. These Directors are neither whole-time Directors nor Managing Directors.
Additional Director is someone appointed by the Board of Directors between two annual general meetings subject to the provisions of the Articles of Association of a company. Additional Directors can hold office only up to the date of next annual general meeting of the Company.
Alternate Director is someone appointed by the Board of Directors in a general meeting to act for a Director called the original director during his/her absence for a period of not less than three months. Generally, alternate Director is appointed for a person who is a Non-Resident Indian or Foreign Collaborators of a company.
5 Simple Stepsto File Resignation a Director in a Company
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FAQon Resignation of Director in Company in India
- Filing of Annual returns via Form MGT 7 & Form AOC 4
- Complying with AGM documentation
- Maintenance of Minutes book and Statutory registers
- Timely issue of Share certificates
- Yearly Disclosure of Interest by Directors
- ROC Filing for Event based compliances as given below
- Issue or new Allotment of Shares
- Change of name andMain objects of the Company
- Appointment & Resignation of Directors
- Transfer of Shares
- Appointment of MD or CEO
- Change in the Registered Office
- Change in theAuthorized Capital/ Paid-up Capital
- Charge registration upon taking secured loan
- Drafting Resolutions for various meetings
- Changes in DIN
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Rs. 2999.00All Inclusive
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How we help with Resignation of Director
BusinessCrow can help you effect Resignation of a Director from your Company.
The procedure for removing a Director from the Board of a company would depend on the existing Board of Directors. Our Experts will advise you on the procedure which is relevant for you.
Once you obtain an understanding of the procedures involved in removing a Director from your Company, our Experts will draft the necessary resolutions for the further procedure.
Once the Board Resolutions are passed, our Experts will prepare and file the necessary documents under the Ministry of Corporate Affairs to register the removal of Director.
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