private limited company has two director having 50% holding for both. now sir how to transfer the share as well as directorship to another two person. as both director want to retire and transfer the share, so guide me what process i should follow.
private limited company has two director having 50% holding for both. now sir how to transfer the share as well as directorship to another two person. as both director want to retire and transfer the share, so guide me what process i should follow.
Dear Akshay,
Execute the transfer deeds for transfer of shares and send duly executed deeds to company
Hold Board Meeting pass following resolutions:
1. approval of Trasfer of Shares
2. Approve Appointment of Directors (Get consent letters from proposed director ahead of board meeting)
3. Take Note of Resignation of Existing Director (Company should receive resignation letters ahead of board meeting)
4. Company has to file two DIR-12s' since resigning directors cannot affix DSC and Resigning Directors have to file DIR-11.
Dear Akshay,
For filing DIR-12 on MCA Portal, One of existing Directors' DSC is to be affixed to form, hence appointment of directors and resignation of directors cannot be done in single form DIR-12, therefore company needs to file two forms.
As per section 168(1) of Act, the resigning director shall also forward a copy of his resignation along with detailed reasons for the resignation to the registrar within thirty days of resignation in form DIR-11.
Hope clarified your doubt.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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