Directors or designated partners change in a company
In India the process of change of directors happens based on the circumstances in the company. Usually the shareholders in the company appoints the directors for a company. There are criteria in the minimum and maximum number of directors depends the type of legal forms. Private limited companies are the most common type of legal form existing in India from very earlier time period. While discussing about the PVT LTD Companies there can be minimum of 2 directors in a company whereas Limited companies require minimum of three directors are eligible as per the Companies At of 1956.
In India Limited Liability Partnership (LLP) companies also register in most of the sectors based on the LLP Act of 2008. Designated Partners are allowed in LLP companies with their minimum number of two designated partners. A change of director or designated partner may occur in a company due to many reasons, there are certain formal procedures are available to the addition or removal of directors.
The proposed director for the company should give the digital signature to do the addition or removal process. Corproots consultants can help you for the entire process change of directors or designated partners in the company by our expert. After obtaining the Digital Signature of the proposed director then he/she can be added to the company with the support of shareholder. Similar process is followed for the LLP Company, but at the same time the any addition or removal of the designated partners in the company should compensate the required number. Removal of director should file a resignation letter to effect resignation of a director.
Features of director change
Director: Indian companies Act allows for the company establishment with wide legal capacity by owning properties and incur debts.
Minimum requirements: The age requirement for the directors to get involved in a company should be more than 18 years and should have Director Identification Number (DIN). In India the foreign national people can also be a director of the company.
DIN: it is the unique number assigned for the directors in a company by the ministry of corporate affairs.