Resignation from the Board

This query is : Resolved

Koushik Kumar (Querist)
Follow

22 September 2010 Hi,
I would like to know what is the process, when the board of directors are willing to resign and how many months do we have time to pay back their capital. Kindly advice at the earlist and how to calculate the same.

Jagruti (CS)

Jagruti (CS) (Expert)
Follow

22 September 2010 On resgination of director. You have to note the same in the next Board meeting and file Form 32 with the ROC.

Regarding payment of capital to director it is a matter of agreement or understanding between the directors. There is no such provision in the COmpanies Act for payment of capital to director or any time limit.

Ankur Garg

Ankur Garg (Expert)
Follow

22 September 2010 Agree with expert.

Company law is totally silent regarding return of capital etc. Rest is very well explained by the expert.

Rgds

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

THUSHAR MURALI KRISHNA

giriswar

Akhil Jain

Somnath Maiti

Shunmugavel Manohar

Subscribe Now

Resignation from the Board

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Senior Executive

Accountant

Manager- Finance and Compliance

GST CONSULTANT

CA Final