A private company has five directors, Can it introduce 2 new directors and take resignation of all existing 5 directors in the same board meeting ?
A private company has five directors, Can it introduce 2 new directors and take resignation of all existing 5 directors in the same board meeting ?
Yes, it can be done. First pass resolution for appointment and then for noting resignation.
So we need two separate resolutions or can it be done in a single resolution ?
YES YOU NEED TWO RESOLUTIONS
If all except one of the directors are resigning , then will we still require two resolutions or it can then be done in one resolution?
Whatever may be the case, it is always a good practice to pass separate resolution for appointment or resignation of each director.
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