Appointment of a director
This query is : Resolved
07 May 2013
Hi,
I have incorporated an Pvt. Ltd.company and have 2 directors. Both the directors have 50% stake each.One of them doesnt want to carry on and we dont have any one else to be an director in his place at the moment.
Can we make him Non-executive director and transferring some of his shares to the other director and carry on with the usual business? We also dont want his interference in the business in future. Please suggest a possible remedy.
Thanks in advance.
I have incorporated an Pvt. Ltd.company and have 2 directors. Both the directors have 50% stake each.One of them doesnt want to carry on and we dont have any one else to be an director in his place at the moment.
Can we make him Non-executive director and transferring some of his shares to the other director and carry on with the usual business? We also dont want his interference in the business in future. Please suggest a possible remedy.
Thanks in advance.
08 May 2013
There will be no change in the legal position of dis-interested director if you appoint him as NED and transfer some of his shares. He will continue to become liable as director for the acts of the company.
22 June 2013
I agree with the expert. To be on safer side you should have 1 more director.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Tds on commission charges
- GST ITC REVERSE
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Fixe term employment
- FAST-DS Scheme - Foreign Assets
- Consolidated financials
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Need Professional Opinion AY 2012-13 Old Demand
- Withdrawal in cash from partners capital account by partner
- New GST registration for new place of business.
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
18 September 2026
Industrial Trainee
Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
View Details
22 September 2026
Account Assistant
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER
Anupam Parashar & Co.
Ghaziabad
CA Final
View Details
ARTICLESHIP
01 September 2026
Articles
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
View Details
CCI
Pro
CAclubindia
