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Director exit procedure in private limited

s saravanan (director) (24 Points)

30 December 2011

Dear Sir

in a 3 people owned private limited company , has equally partnership , if one wants to leave , what would be the exit procedure ?

has he need to sign all the statutory documents again or any single document will do the needful by giving power of attorney to any one director ?

Regards Sa

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4 Replies

Charu Srivastava (Company Secretary) (4210 Points)
Replied 30 December 2011

just file form 32 with the ROC for the removal of the Director.

1 Like

nidhigoel89 (Company Secretary ) (594 Points)
Replied 31 December 2011

Hello,

In case ur entity holds the status of Company and the outgoing partner is a director then u just need to file form 32.

In case its a partnership firm then u need to get by the deed and act accordingly.

Thanks

Nidhi

CS MOHIT SALUJA (PRACTICING CS Jalandhar 9914558709) (5155 Points)
Replied 31 December 2011

In case of Private Limited Company, the director who want to leave will ahve to give resignation from the post of Director and will ahve to present it to the board of Directors. When, the Board accept resignation in duly held Board Meeting, the resignation will become effective. And the director can leave the company.