Closer of private company
This query is : Resolved
Alok A Bhavsar
(Querist)
03 August 2013
Hello,
This is Alok,
My queries are as follows :
01) There is one Pvt co. in which there where
2 directors out which one is died. What
procedures have to follow in this case.
02) Since after death of one director only
is alive and he wants to close the
company what is procedure to do so?
03) Whether this company can avail the
benefit of Fast Track Exit Mode Scheme
(AS this scheme is formed by MCA U/s 560
of the companies act)
Thank You in Advance
This is Alok,
My queries are as follows :
01) There is one Pvt co. in which there where
2 directors out which one is died. What
procedures have to follow in this case.
02) Since after death of one director only
is alive and he wants to close the
company what is procedure to do so?
03) Whether this company can avail the
benefit of Fast Track Exit Mode Scheme
(AS this scheme is formed by MCA U/s 560
of the companies act)
Thank You in Advance
Ajay Mishra
(Expert)
04 August 2013
Hi
As per your queries, appointment of director where director of the company is less than the quorum fixed by article for the meeting of the Board. In your case the, the quorum is not, because of the death of one director out of the two director.
In such case you must follow the provision of your company articles read with clause 75 of the Schedule I- Table A of the Companies Act, 1956.
Regulation 75 Says:
In Case the director of the company is less than two or the no. of director fix for the quorum, then the remaining director (continuing director or directors) may act for the purpose of increasing the no. of directors to that fixed for the quorum or summoning a general meeting of the company, but no for other purpose.
As per your queries, appointment of director where director of the company is less than the quorum fixed by article for the meeting of the Board. In your case the, the quorum is not, because of the death of one director out of the two director.
In such case you must follow the provision of your company articles read with clause 75 of the Schedule I- Table A of the Companies Act, 1956.
Regulation 75 Says:
In Case the director of the company is less than two or the no. of director fix for the quorum, then the remaining director (continuing director or directors) may act for the purpose of increasing the no. of directors to that fixed for the quorum or summoning a general meeting of the company, but no for other purpose.
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
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- 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?
- 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
CAclubindia
