If you are looking for a stepwise process of how to change director in pvt ltd company, the further post can be the best fit. As we all know, changing directors in company is a kind of exercise that a company needs to perform so that no operations of the company are affected or boosting its operations smoothly. Changing director name in company is subject to MOA conditions and also provisions of the Companies Act 2013. Navigate the company director change process in this post and gain insight into how to change director in pvt ltd company.
Directors: Definition & Meaning
Considerables before initiating change in directors
- The minimum number of directors is two.
- A maximum of 15 directors are allowed.
- Every appointed Director must have a Director Identification Number (DIN).
- Foreign Directors appointment is also allowed.
- Any director removed formally from the board must secure an opportunity to be heard.
- Any director who is resigning from the company must submit his letter of resignation to the board of directors. Within 30 days of resignation, it is necessary to file Form DIR-11 to the ROC by the director.
Step-by-Step Process of Change of Director in a Company
Step 1: Apply DIN
Step 2: Hold Meeting of Board of Directors
Step 3: Hold a General Meeting
Step 4: File Form DIR 12
Step 5: Resignation from the Director's Position
Step 6: File Form DIR 11
Step 7: Hold a Board Meeting
Director change in company is an indispensable part of company structure. There may be several factors behind it such as poor management of company operations by the director, resignation of director, change in lifespan of director like death, etc.
Adding or removing director (s) in a private limited company can be done easily by adhering to the terms outlined in the company’s MOA (Memorandum of Association) as well as provisions specified for change of director in the Companies Act 2013. Go through this post deeply to gain insights into how to change director in pvt ltd company.
FAQs
Q1: Who can be appointed as a director of the company?
Q2: What documents are required to change directors in a company?
The documents required to change of director in company are listed below;
- Letter of Consent in Form DIR-2
- Appointment Letter
- Interest in other entities
- Proof of Identity and Residence
- CTC of Resolution Passed
A few other documents also may be required depending upon the reason for initiating the process of change of director in a company.