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Change Director in Company
Change Director in Company
Directors are key persons who manages the company. They are management of company who looks after operations and administration. The Change in Director of Company happened due to resignation of director or appointment of director. Appointment or removal of directors is done through shareholder of company. Minimum two director are required under Private Limited company and Three under Public Limited Company. Companies Act does not require any mandatory educational capabilities to appoint or remove director. Article recommends procedure for change Director of company. Only Individual can be appointed as director in company, Company must have one resident director. We can help in necessary legal filing to add or remove a director from company.
Basis pre requirement to add a director is Digital Signature. Once Digital signature is done, legal filing can be done to MCA for issuing Director Identification Number for Proposed director. With DIN number Proposed director can be added in company with consent of shareholders. Before removal of director from company it’s important to note that company have minimum two directors.
Key Points Change in Director
- Individual Person Can be appointed as Director
- Every Director must have Valid Director Identification Number DIN
- The Director must have minimum age 18 years
- Inform ROC within 30 days for change in director
Highlights in Changing Directors
Minimum Age
A Person at least of 18 years Old can be appointed as director in Company. In other words, minor is not allowed to become directors. Same applied to foreign directors.
Director Identification Number
Prerequisite requirement to add director is Director identification number. This DIN number is Unique is allotted by Ministry of Corporate Affairs.
Board of Director
A Private Limited need to have minimum two and maximum fifteen directors. The proposed director can be other than shared holder.
Types of Directors
Resident Director
Company Need to have one director who stayed in India for total period of not less than 182 days in Previous calendar year.
Shadow Director
Person who is not appointed to the Board, but on whose directions the Board is accustomed to act, is liable as a Director of the company, unless giving advice in professional capacity.
Independent Director
An Independent director is an alternate director other than a Managing Director which is known as Whole Time Director Or Nominee Director
Women Director
As per Section 149 (1) (a), there are certain categories according to which there should be at least one woman as a director on the Board.
Additional Director
Any Individual can be appointed as Additional Directors by a company under section 161(1) of the New Act. Appointed person will be Additional Director