Removal of Director

This query is : Resolved

UMESH RAVANI (Querist)
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08 February 2009 I f the Pvt. Company want to remove the director by force than what is the care to be taken for removing the same. and what is the remedies available to removed director to file any kind of the penal or any other action against the company.
what is the penalties applicable to the continuing director if they found the officer in default.in forceabley removing the director.

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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08 February 2009 Step 1 : Assign the reasons for which the company want to remove the director.

Step 2 : Issue a notice by registered post to explain at a certain board meeting.

Step 3 : At the board meeting record the reasons and if the board feels that is not acceptable and check whether removal is decided.

Step 4 : Pass a resolution in the board meeting recording the reasons for proposed removal.

Step 5: Conduc egm, pass minutes of egm.

Step 6 : Form 23 along with notice and minutes.

Setp 7 : File form 32 for removal of director.

Setp 8 : Intimate your bankers and financial institutions.

Setp 9 : If required give the details in paper that the director has been removed.

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