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Change in bod and promoters share

Chander Pal (Finance) (26 Points)

24 July 2014

Hi,

We three friends confounded and registered a company in Aug 2012 and all of us bacame the directores of the company. One of the cofounders has left the company due to some personal reason. Now we want to buy back his portion of equity and exclude him from BOD.

Can anyone please suggest me how it can be done? We are based out in bangalore.

Thanks in advance.

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3 Replies

RoHaN k (CA & CS) (308 Points)
Replied 24 July 2014

Even if he had left, he must be shareholder at this time , if such shares had been issued in physical form , just transfer the shares equally to remaining director (through share transfer form)

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Chander Pal (Finance) (26 Points)
Replied 24 July 2014

How much does it cost for share transfer?

Along with this what is the procedure to exclude him for BOD and bring in new director? How much this procedure would cost?

Originally posted by : RoHaN k
	Even if he had left, he must be shareholder at this time , if such shares had been issued in physical form , just transfer the shares equally to remaining director (through share transfer form)