Director of a company is a person delegated by the shareholders to manage the activities of the company. Legally, it’s advisable to make any change in the Board of Directors (B0D) of a company as per the provisions given in the Companies Act of 2013. The need for change in the director of a company must be duly justified and approved by all the shareholders/existing directors of the company. Change in director means either removing a director from the Board of Director list or appointing a new director to the Board of Directors list.
Managing Director: MD is a Director, who by virtue of AoA of a company or a written agreement with the company or a resolution passed in company annual general meeting or by its Board of Directors, is delegated with significant powers of managing the businesses activities of the company
Executive Director: An ED is an employee of the company and is deeply involved in managing the business activities of the company
Alternate Director: Alternate Director can be 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 3 months
Ordinary Director: Ordinary Director generally attends the Board Meetings of a company and participates in the discussions put before the Board of Directors
Additional Director: Additional Director can be appointed by the Board of Directors for next AGM
It is completely internal policy of a company to add or remove a Director. There might be many reasons to add or remove, like a Director is resigning from the company, going for a leave or medical conditions, termination / removal of a director etc.
Noteworthy here are the facts that as per the new Indian Companies Act of 2013, a private limited company and an LLP company must have at least two directors always. On the other hand, a public limited company must have a minimum of three directors at all times. Again, a foreign national can also become a director in any of these types of companies in India, provided he/she meets the requirements prescribed for becoming a company director. For making the appointment of a new director concerned is the Section 160 of the Indian Companies Act of 2013, while the Section 168 is relevant for getting resignation/removal of a director from the BD of a company.
Step 1: - The procedure for removing a Director from the Board of a company would entirely depend on the existing Board of Directors.
Step 2: - Once you get an understanding of the procedures of removing a Director from your Company, we will draft the obligatory Resolutions for the procedure.
Step 3: - After the Board Resolution is passed, we will prepare and file the compulsory documents with the MCA to register the removal or addition of Director
1. Connect to Corpseed
2. Provide necessary documents required for appointing a new director or removal of existing Director
3. Our Legal expert will help your company to add or remove a Director as per laws and compliances
At Corpseed, we are committed to offer our services to the entrepreneurs and businesses as a very cost-effective proposition. We believe that a customer is always right and the focus of any business activity should be to serve the customer with utmost loyalty. All our services come with SLAs (Service Level Agreements) for on-time service delivery and money back guarantee to ensure high level of customer satisfaction.
At Corpseed, our valued customers are always kept in the loop as far as service delivery timeline is concerned and we inform our customers every time a milestone is achieved during each stage of service request processing. But we also believe that we may come across a customer who is not satisfied with our efforts. For that we have a very responsive Customer Care Department which work 24x7 to attend to and solve customer complaints. We also have a money back guarantee for those, who want their service charges to be refunded.
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If a customer is not satisfied with the service we provided and if he contacts our customer care helpline and files a formal complaint within 15 days of service delivery date, Corpseed would refund the entire or partial amount of Professional Fee charged for that particular service.
If a customer is having issues with our service delivery process, he has various alternatives available at his disposal to register his grievance with us. He can either email his complaint at firstname.lastname@example.org or he can call our 24x7 Customer Care Helpline. Also, any customer is always welcome to visit our office to lodge a complaint with the senior management.
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MCA on part of updating its registry, would be conducting KYC of all Directors of all companies and annually through a new e-form viz. DIR-3 KYC as notified vide MCA’s notification
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