Changes in Directors
Appointment and/or Resignation of Directors
LegalBoss Team help you in Change in Directors.
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Starter Plan : Rs. 1599.00
- Documents Preparations
- Preparing ROC Form
- Filling a Form (DIR-12) for Appointment or resignation
Economy Plan : Rs. 3599.00
- Applying Digital Signature Certificate - 1
- Documents Preparations
- Applying Director identification Number - 1
- Preparing ROC Form
- Filling a Form (DIR-12) for Appointment or resignation
Business Plan : Rs. 4499.00
- Applying Digital Signature Certificate - 1
- Documents Preparations
- Applying Director identification Number - 1
- Preparing ROC Form
- Filling a Form (DIR-12) for Appointment and/or resignation
- Filling a Form (DIR-11) for Resignation
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More About Change in Directors
About Change in Directors:
Director is a pillar of the company. They are the managerial person of the company who control and administrate the company’s operation. Appointment of Director is mad through the shareholder of the company as per the define in the memorandum and article of association.
Director resignation and Appointment of the Additional Director approval power with the members of the Board of Director they can approve and same has to intimate with respective ROC.
Why Change in Directors:
- Assign Responsibility without change in ownership.
- Inability to work by existing Director.
- Appoint new talent in to the board.
- Requirement of the Statutory Obligation
Important Point to be considered while Change Directors:
- He/She must be 18+ age before appointment
- Before appointment he/she must have DIN number
- He/she not be disqualification as per section 164 of Companies Act, 2013
- Whether Appointment is for Executive Director / Non executive Director / Managing Director / Whole time Director / nominee Director / independent Director / Additional Director / Alternate Director etc...
- For resignation of Director Notice of resignation mandatory for resignation.
FAQ on Change in Director
Can NRI/Foreigner appointed as a Director in Indian Company?
Yes, but after he or she obtaining DIN (Director Identification number) and one director must be Indian resident.
Minimum Directors Required in the Company?
For the Private Limited Company minimum Directors Required 2 (Two)
For the Public Limited company Minimum Directors required 3 (Three)
for the One person Company (OPC) Private Limited minimum Directors required 1 (One)
Who Become a Director in a Company?
Any Individual become a Director subject to his/her age must be 18+ and must be qualified as per the Companies Act,2013.
Required Documents for Change in Directors
Minimum Requirements
- PAN Card
- Aadhar Card
- Photo - 2
- ID proof (Driving Licence / Voting card / passport)
- Residence Proof (Driving License / passport / Voter ID / Electricity Bill / Mobile Bill not older than 2 month)
- Digital Signature of director
- Director Identification Number if, not then must have to apply before appointment.
Specific Requirements
- Before Appointment Required to Get Director identification Number and for that Digital signature requirement is must.
- For resignation Notice of resignation must opt form resigned director.
Types of Directors:
Points to make your decision easy
Additional Director:
As far as there is no difference in Director and additional Director. Additional Director appoint by the Board of Directors and additional director hold his directorship till the conclusion of the next annual general meeting.
Alternate Director:
Alternate Director will appoint in place of absence director (Absence period not less than Three month). The board of director may if, so authorized by Article of association or by resolution passed in the Shareholder Meeting, Appoint person as alternate Director of the Company.
Executive and Non Executive Director
Executive Director is the whole time employment of the Company where non executive director is not a employment of the company. Executive Director participate in the company operation and take a remuneration where as non executive Director not participate in operation of the Company but they can participant on the Meeting and take seating fees.
Independent directors
They are not Managing directors, whole time directors or nominee directors, such directors have to comply with the criteria's given in section 149(6). An independent director can be appointed for a consecutive period of not more than 2 years then a gap of 3 years is required before their reappointment in the same company for the same position. Every listed public company shall have not less than one third of its directors as independent and prescribed public companies shall have minimum of 2 independent directors.
Managing Director:
The person who is in overall charge of the running of an organization or business. Appointment of MD by the Board of Director among its member to manage the affairs of the company as a whole time officer and calls him the Managing Director.
Nominee director
Such directors are appointed by third party subject to the articles of the company in pursuance with the law or any provisions for the time being in force. For example a director appointed by bank / Financial institution.
Step Involved in Change of Director
STEPS & TIME DURATION
1
Day 1
- Discussion between LeglBoss Team & the Promoters/Directors of the Company.
- Drafting necessary Documents and resolutions
2
Day 2-3
- Signing of Required Documents.
- Preparation for ROC forms for Changes
3
Day 3-5
- Filling of Forms and Documents with ROC
- Paying ROC Fees
4
Day 5 Onwards
- ROC processing Time / Approval Time
- Send Approval Letter with ROC forms and Challan