Director has committed fraud

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 December 2012 One director has diverted some funds of the company in his personal business ,how do we remove such director.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

28 December 2012 Before removing him try to recover the money so diverted.
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The procedure to be followed is as follows:
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A Company by ordinary resolution in an Annual general meeting or an extra ordinary General meeting can remove a director.
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Special Notice about the resolution to remove a director shall be issued to the members.
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A copy of the said notice to be send to the director to be removed also.
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The director shall be given an opportunity of being heard in the meeting.
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If the director gives any written representation to the notice, then the said representation shall be given to all members.
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If the representation could not be given to all members, then the Director can request the said representation to be read out in the meeting.
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The Company shall within 30 days from the removal of a director file Form No.32 and a copy of the resolution with the Registrar

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