Each private company should have a least of two directors, whereas a public corporation shall have a least of three directors. a private company can remove a director if he catches any of the incompetence specified under the Act, or Absents himself/herself from board adherence over 12 months. However, it gets excluded by order of a court or Tribunal or is convicted by a court of any crime and sentenced to imprisonment for not less than six months.
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Send notice to its members clear seven days before the meeting, along with a copy of the representation copy.
The member who proposes the dismissal should provide a 'Special Notice' of a resolution to remove a director at least 28 days before the meeting at which the director may be excluded.
There may be no alternative option left for the Company than to seek the removal of the Director by consulting to the Board and with a majority of shareholders under (AOA) of the Company.
Under the Companies Act, 2013, in a private company, a shareholder can appoint a director, so ideally only they hold the authority to remove directors. However, in proprietary companies, the removal of directors can be commenced by a majority of directors if the constitution permits it.
While carrying change in the Board of directors, the Company must obtain consent from its Board and members, as required by passing a resolution and statutory limit after removal of Director or resignation.
No, even after the end of the tenure as director, a person can hold the shares in the Company only if it is not subscribed as a condition to appointment as provided by AoA.
The shares of the Company shall be transferred by way of completing the Share Transfer deed and by affixing the stamps as per the rates mentioned in the Stamp Act of the concerned State after the change.
As per Notice of 'ROC u/s 248(1)', this notice is the first step toward struck off of Company. If 'Company' fails to reply to such notice within 30 days of publication of note, ROC shall strike off the name of Company in its records.
In 30 days of the date of the resignation, if the company fails to or doesn’t file the 'form DIR-12', a specific concrete Government fee- Penalty will be charged.