Non executive director

This query is : Resolved

l.narasimha rao (Querist)
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05 December 2016 Dear sir,

A Private Limited Company has 2 directors executive and 2 directors non-executive.

the company wants to change one director executive to non-executive

can the above company have 1 director executive and 3 directors non-executive.

Please suggest sir,

Best regards,

Narasimha

c.bakshi

c.bakshi (Expert)
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08 December 2016 yes, there is no such restriction. the company may have all the directors as executive or non-executive. it depends upon the appointment

l.narasimha rao

l.narasimha rao (Querist)
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08 December 2016 Dear Mr.C.Bakshi sir,
Thank you very much sir.
Best regards
Narasimha

c.bakshi

c.bakshi (Expert)
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08 December 2016 it's my pleasure dear to help you

l.narasimha rao

l.narasimha rao (Querist)
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20 December 2016 Dear Mr.C.Bakshi sir,

i have one clarification, can you explain me the procedure to change the designation of a executive director professional to non-executive director independent and the section applicable as per the provisions of the act 2013.

Thanking you sir,

Narasimha

c.bakshi

c.bakshi (Expert)
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20 December 2016 only a copy of board resolution of change in designation of director annexed with DIR-12 form is sufficient to comply.

l.narasimha rao

l.narasimha rao (Querist)
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21 December 2016 Dear Mr.C.Bakshi sir,

Thank you sir, and the applicable section sir is it 149(6) of companies act 2013, but i have one clarification as per section sir is it 149(6) of companies act 2013, the director who want to be an independent director, sholud not be a promoter and he should not have any shares in the company, he is one of the promoter and he has 0.05 shares in this private ltd company sir.

Best regards,

Narasimha

c.bakshi

c.bakshi (Expert)
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22 December 2016 if the person is of promoter group or a relative of promoter, then he can;t hold the designation of Independent director Further, he must have a shareholding below 2% (which includes shareholding of its relatives).

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