Resign From Directorship
Director of a company are living person entrusted by the shareholders to manage the affairs of the company.
Introduction
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. Director in a company may need to resign or the Board of Directors or Shareholders may want to remove a Director for any reasons. In such cases, a Director can resign or be removed by filing the intimation of change of Director with MCA.
The procedure for the resignation of director and removal of Director by the Board or Shareholders 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.
Types of a Director in a Company
Managing Director
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
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.
Additional Director
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 the next annual general meeting of the Company.
Ordinary Director
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 or Managing Directors.
Alternate Director
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.
How we process an Appointment of Director
Advisory
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 relevant for you.
Board Resolutions
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 procedure.
Filing
Once the Board Resolutions are passed, our Experts will prepare and file the necessary documents with the Ministry of Corporate Affairs to register the removal of Director.
Resign From Directorship
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