Directors
This query is : Resolved
06 July 2012
What is the time limit to appoint a director in case of private limited company where only 1 director is in existence and other has died(as act demands min. 2 directos)? Further to my question, what wil be the status if it needs any regulatory approval??
CS Mitesh Mehta
(Expert)
06 July 2012
Every company must have minimum number of directors at all times during its existence starting from the date of incorporation.
When the Company has adopted Table A, Regulation 75 of Table A provides that:
‘The continuing directors may act notwithstanding the vacancy in the Board; but, if and so long as their number is reduced below the quorum fixed by the Act for a meeting of the Board, the continuing directors or director may act for the purpose of increasing the number of directors to that fixed for the quorum, or of summoning a general meeting of the company, but for no other purpose’
When the Company has adopted Table A, Regulation 75 of Table A provides that:
‘The continuing directors may act notwithstanding the vacancy in the Board; but, if and so long as their number is reduced below the quorum fixed by the Act for a meeting of the Board, the continuing directors or director may act for the purpose of increasing the number of directors to that fixed for the quorum, or of summoning a general meeting of the company, but for no other purpose’
16 July 2012
Will MCA accept the Form 32. as 1 director died. Other director has been appointed after 2months as regulatory approval was received late. What will be status of Private company till the said 2 months. Whether the acts during this period is valid?
CS Mitesh Mehta
(Expert)
16 July 2012
Yes
You can file form 32 for appointment of additional director.
I think you have not filed Form 32 for cessation of director.
First file Form 32 for apointment & then file form 32 for cessation.
Even though you have filed Form 32 for cessation. You can file form 32 for appointment of director.
You can file form 32 for appointment of additional director.
I think you have not filed Form 32 for cessation of director.
First file Form 32 for apointment & then file form 32 for cessation.
Even though you have filed Form 32 for cessation. You can file form 32 for appointment of director.
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CS Mitesh Mehta
(Expert)
16 July 2012
There are no penal consequences for voilation of S.252, except that all decisions taken by the continuing directors may be treated as invalid.
16 July 2012
Yes.. if we file Form32 for death of director it will not accept and co. will be treated as illegal association.
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