Director

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Querist : Anonymous

Querist : Anonymous (Querist)

12 February 2013 There is one small private limited company where there are two director subscribed sharecapital in equal proportion. Now they want to enter third director.

1My question is how to enter third director:
2Practical problem:
Process needs to be followed on MCA Website and its relevant form
3Company is newly incorporated and having 1 lac capital with no business started yet then how to enter third director and valuation and how he brings the money or subscribed the share capital...

Kindly make your own suggestion in this regard.

Thanks

Ajay Mishra

Ajay Mishra (Expert)
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12 February 2013 Hi

You appoint third person as additional director and after appointment your Board of Director will be 3 and shareholder will be 2. There will be no changes in shareholding of directors.

Procedure for Appointment of Additional Directors.

1. Take consent of director and DIN/disclosure of interest
2. Call a Board Meeting for proposal of appointment of director
3. Hold a Board Meeting and appoint him as additional director.
4. File Form-32, with ROC, with in 30 days from the date of appointment.
5. Attach consent letter with Form-32, in case of public limited company.
6. Take entry in Minutes.

Querist : Anonymous

Querist : Anonymous (Querist)

12 February 2013 Thanks for your reply.

Would you guide me if the same person want to be director and shareholder both then how to do valuation of just an incorporated entity.....Private limited company...
Any valuation report required to be obtained or not??? How to admit him as Share holder as well director because sharecapital will remain same. Hope you would get what i actually mean to ask??

Ajay Mishra

Ajay Mishra (Expert)
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12 February 2013 Hi

You only allot ...... number of shares to new director by Board Meeting. No need to take any valuation report. You only receive money against allotment of shares before allotment.

After allotment file Form-2 with ROC with in 30 days from the date of allotment.

Querist : Anonymous

Querist : Anonymous (Querist)

13 February 2013 Ajayji thanks for your kind reply.

Plz solve my query:

Share capital: 100000
Two director holding shares worth 50000 each
Now they want to enter one more director as well share holder then how the Shareholding pattern to be changed.

Ajay Mishra

Ajay Mishra (Expert)
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13 February 2013 It is your Authorised Capital or it is your paid up capital.

What is your authorised capital.

Other wise the present directors will transfer some shares to new director.

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