after death of director

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sohail (Querist)

27 October 2010 we have a company whose managing director has expired on 25th of october 2010 , what are the procedure to be followed after his death like,
board resolution , appointment of new MD, and what about his share in the company,
can you please clarify
1) what form to be fillied with ROC (MCA)
2)procedure for share transfer
3)within what time this procedure to be completed
4) any other thing we should take care of

Please help

Sooraj Nandan

Sooraj Nandan (Expert)

28 October 2010
Please clarify that whether it is a public Limited company or private Limited company???

Any way
1.You have to file form 32 in this regard. The form itself contain the provision for that.

2. You have to follow the procedure of transmission of shares.

3. Form 32 should be filed with in 30 days of his death. Otherwise you have to pay the additional fee.

CS Nikita Sheth

CS Nikita Sheth (Expert)

28 October 2010 I agree with the opinion of Mr. Suraj

If its a public company then u have to appoint another MD or manager for the company

Also check the provision of section 268

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