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Dipa K

44 Points Posted on 05 May 2014

Dear Sirs and friends,

My company is Pvt.Ltd co.having 2 directors.I want to close the company by FTE mode.One of our director is Dubai resident and in dubai there is no concept of Indemnity bond and Affidavit and as per FTE mode every director has to give Indemnity bond and Affidavit to close the company.

My question is whether one director's Indemnity and affidavit will do if all the rights given him in Board resolution?

Regards,

Dip

Replies (2)

P C Agrawal

Registered independent director Past Ch

5233 Points Posted on 05 May 2014

I don't think Board resolution will serve the purpose. ROC may ask for power of attorney from foreign director to sign all required papers in favour of Indian director. If any one has handled such case he may please comment.

Dipa K

44 Points Posted on 05 May 2014

Dear Agrawal Sir,

I am very much agreed with you.That director gave the IB and Affidavit to Dubai's legal department but they gave him the draft of POA and said draft according to your need.

I also suggested to my senior that we can try by taking POA from foriegn director to do all the acts regarding FTE by other director.

Pls guide...

Regards,

Dip