Removal of director of pvt. ltd. company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 November 2013
Hi, We have the same case as mentioned in following query in your website:
https://www.caclubindia.com/experts/how-to-remove-director-of-a-private-limited-company--792700.asp#.UoR6IuKYted
in addition to that we want to ask that if the 3rd director will be remove but he have company's 33% shares, what will happen of these shares? how we can take it back?... also right now there are 3 directors' signs are required in the bank account, can we remove the 3rd director from bank account also after remove from company?
https://www.caclubindia.com/experts/how-to-remove-director-of-a-private-limited-company--792700.asp#.UoR6IuKYted
in addition to that we want to ask that if the 3rd director will be remove but he have company's 33% shares, what will happen of these shares? how we can take it back?... also right now there are 3 directors' signs are required in the bank account, can we remove the 3rd director from bank account also after remove from company?
15 November 2013
you can write letter to bank stating that the director has been removed and consequently change of signatories is required. You may pass a board resolution to do so.
Can you buy-back, well depends on whether he wants to sell or not. You can nullify the impact by making private placements to the other shareholders. Also it is advisable that you properly records the reasons of the director's removal and in case of any criminality, file a police complaint.
Can you buy-back, well depends on whether he wants to sell or not. You can nullify the impact by making private placements to the other shareholders. Also it is advisable that you properly records the reasons of the director's removal and in case of any criminality, file a police complaint.
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