Resignation of a director

This query is : Resolved

DIVYESH JAIN (Querist)
Follow

16 February 2015 Dear All,

There is a company of 2 Directors which was formed as per Companies Act, 1956.

Now 1 director in the company wants to resign. My question is, can a company run with 1 director since the Companies Act, 2013 is now applicable and whats the process for the same.

Thanks,
Divyesh Jain

c.bakshi

c.bakshi (Expert)
Follow

16 February 2015 NO...Every Private company must have atleast 2 and Every Public company shall minimum have 3 directors. however, 6 months maximum time period to comply with the provisions of minimum directors for the company. in the absence of the above criteria the company and the authorised person shall deemed to be in default and has to pay penalty

DIVYESH JAIN

DIVYESH JAIN (Querist)
Follow

17 February 2015 Dear Sir,

Thanks for your reply, but then, what about the new provision which states that a company can be formed with 1 director

Chetan Patankar

Chetan Patankar (Expert)
Follow

17 February 2015 That is possible in case of One Person company. Every other private co. Shall have at least 2 directors.

DIVYESH JAIN

DIVYESH JAIN (Querist)
Follow

17 February 2015 Ok, so is there no way I can covert this company into One Person company.

Chetan Patankar

Chetan Patankar (Expert)
Follow

17 February 2015 Yes.. Conversion is possible.

Message likes : 1 times

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

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

Vimlesh kumar

Shivchandra Jakhotia

Dhananjay Singh

cgagroshg cgagroshg

vinal

Subscribe Now

Resignation of a director

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Article Assistant

Accountant

GST CONSULTANCY

GST CONSULTANT