Resignation of a director
This query is : Resolved
DIVYESH JAIN
(Querist)
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
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
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
(Querist)
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
Thanks for your reply, but then, what about the new provision which states that a company can be formed with 1 director
Chetan Patankar
(Expert)
17 February 2015
That is possible in case of One Person company. Every other private co. Shall have at least 2 directors.
DIVYESH JAIN
(Querist)
17 February 2015
Ok, so is there no way I can covert this company into One Person company.
Chetan Patankar
(Expert)
17 February 2015
Yes.. Conversion is possible.
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