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.
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
CAclubindia
