What are the compliance for resignation of First director cum subscriber

keshav (Student of CA Final) (51 Points)

30 June 2020

pls let me know about the compliance for resignation of First director cum subscriber in Private Limited Company.

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ch.smruthi sree (finance manager) (58 Points)
Replied 30 June 2020

As the person is a Director cum subscriber, need to file Dir 12 with all the required attachments - Notice of Resignation, Proof of cessation from company, Board resolution. And as he is a subscriber, need to transfer his shares to others by executing the transfer process. ( Transfer deed with requisite amount of stamps affixed, Transfer notice, Board Resolution)

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