Resignation of a director from a pvt ltd co.

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divesh (Querist)

30 January 2012 1. From where i can get form for resignation of a director.
2. How can i transfer shares of that director in between remaining directors.
3. digital signature of only single director available. can that remaining director can sign digitally the said form for resignation of a director.

Jiten Gupta

Jiten Gupta (Expert)

31 January 2012 1. Directors may resign from company by giving a simple written application to company. As far as Intimation to ROC is concerned, company will give this within 30 Days of Resignation in E-Form 32 (Available at ROC site)

2. You can transfer the Shares in the ratio fixed by Board.
Process would be to transfer the Shares from one person to another is as follows

A. Get the Share Transfer Deed from Stock Exchange (Form 7B)

B. It Should be duly filed with both by Transferor and transferee or on their behalf

C. It should be made duly Stamped by attaching the required value Share Transfer
Stamp

D. It should be presented to the company within 2 Months from the Date mentioned in Deed (7B).

3. Yes, one of REMAINING DIRECTOR can sign the E-Form 32.

Regards

divesh

divesh (Querist)

31 January 2012 thanks.
what is the required value of share transfer stamp for the following.

the co.'s share capital is 1 lakh.
share of the resigning director is 10%
face value of the share is Rs.100/-

Jiten Gupta

Jiten Gupta (Expert)

31 January 2012 Check the State Law for it..

It varies from state to State..

In New Delhi it is 0.1%..

divesh

divesh (Querist)

31 January 2012 thanks..
i think in mumbai it is .25%

Jiten Gupta

Jiten Gupta (Expert)

31 January 2012 Special note:

With effect from 1.7.02, for transactions in physical form, the Government of Maharashtra has banned the sale and use of share transfer stamps. The Government has started putting their stamp by using franking machine at the Stamp Office. For transactions executed in Maharashtra, instead of affixing share transfer Stamps, stamp duty @ 0.25% of the market value or the consideration amount (whichever is higher) should be franked on the transfer deed.In Mumbai, deeds may be franked at Bank of India, Stock Exchange Building, 1st Floor, Mumbai 400001.

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