Pvt Ltd company started by 3 directors who are shown as salaried directors vide board resolution.
initial investment brought in by 3 on equivalent basis .
before passing board resolution for resignation and form 32 process, how does the resigning director ensure he gets his equal share of company assets ?
Dear Mr Cash,
In this case, you simply pass a resolution in the Board meeting about his resignation and then file form 32 for his/her cessasion.
Regards,
Aditya
Dear Mr. Cash,
In case of Company, Director can not take away/withdraw Company's assets on his resignation from company even though he has made initial investment becase it is not partnership firm. Further initial investment in the Company will be in the form of subscribtion to the shares of the company & therefore though he resign as Director he will continue to be share holder of the Company and if he wants his investment back then he can transfer the shares.
Thus as said by Aditya - simply pass a resolution in the Board meeting about his resignation and then file form 32 for his/her cessasion.
Regards,
CS Samiksha Kansara
CAclubindia
