If at the time of incorporation of company there were 2 directors (Say A & B). These two directors purchased 5,000 shares each. Subsequently these shares were sold by A & B to C & D.
My question is
Whether any amendment in Memorandum of the company is required regarding the names of directors ? As the original persons who held shares are no more the directors of the commany.
| Originally posted by : Tushar Mahendru | ||
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My question is Whether any amendment in Memorandum of the company is required regarding the names of directors ? As the original persons who held shares are no more the directors of the commany. |
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Not required and original founder and first director will be A & B only.
Regards
Jaideep Pandya
Agree with the above answer.
First director shall remain the same on the Memorandum of the company even if they have transferred their shareholding and are no more on the board of the company.
There is no need to amend the Memorandum of the company to remove their name and add the name of new directors.
Regards
CAclubindia
