Outgoing Director's Power as per companies act 2013
This query is : Resolved
Meenakshi Ramandasani
(Querist)
08 May 2023
Hi,
A private limited company has two directors in their Board and one of them is Bank's authorized signatory. Both the directors wants to resign the company but before their resignation, two new directors shall be appointed in the board to fulfill the requirement of Act as well as quorum.
Now the outgoing partner can not withdraw the power of being signatory in the Bank by himself..right ??
Board has to pass resolution for change the signatory and enclose their resignation letter and form along with it...right ??
Is there any section of the act which tells the same !!!
A private limited company has two directors in their Board and one of them is Bank's authorized signatory. Both the directors wants to resign the company but before their resignation, two new directors shall be appointed in the board to fulfill the requirement of Act as well as quorum.
Now the outgoing partner can not withdraw the power of being signatory in the Bank by himself..right ??
Board has to pass resolution for change the signatory and enclose their resignation letter and form along with it...right ??
Is there any section of the act which tells the same !!!
CA R SEETHARAMAN
(Expert)
08 May 2023
Yes you are right.
Refer section 169
Refer section 169
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