Change in Directors

Get finest directors on board with change of directors

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Overview

Directors are the said to be brain of the company. They are the managerial personnel who control and administer the company’s operations. Card of all Indian Shareholders and Directors

The rotation of directors takes place in one or the other way – either by appointment of new director or resignation of existing.

Aim to carry out change of directors is always to ensure optimum combination of experts on board for interest of company.

Overview

PAN and Aadhaar Card

Both PAN and Aadhaar Card of all Indian Shareholders and Directors

Identity Proof

Either Voter ID, Passport, or Driving License of the Shareholders and Directors.

Proof of Address

Copy of the latest Telephone Bill, Electricity Bill, or Bank Account Statement of the Shareholders and Directors

Photographs

Latest passport size photographs of all the Shareholders and Directors

Business Address Proof

Either of the latest Utility Bill (Electricity, Telephone, Gas, Water) or Property Tax Bill of the registered office address. Rent agreement and NOC from the owner in case of rented property

Proof of Address

Copy of the latest Telephone Bill, Electricity Bill, or Bank Account Statement of the Shareholders and Directors

Why changing directors is required?

Hire new talent on board

With the growth of business, strategies and alliances are developed, that requires inputs of each department are required for effective planning. Also, with an addition of the new product line or department, an expert to lead the team can be hired in a managerial position being director of the company. This benefits the company with specialization and focused efforts.

Assign operational responsibility without dilution ownership

Directors are responsible for day-to-day operations. With the appointment of an additional director, the shareholders can assign the operational responsibilities to directors keeping strategic control in hand. Here, a director does not require subscribing to share capital, hence, the ownership and voting rights of shareholders does not dilute with a new person on Board.

Inability to work by existing directors

The existing directors may be unable to serve the company after a certain period due to retirement or other personal reasons. Whether it is a resignation by the director or his death, the company needs to make sure that its work is unaffected. It needs to process for both discontinuations by director and appointment of a new director if any.

Number of directors fall under statutory limit

The Companies Act has prescribed the minimum number of directors in any company, which is 2 and 3 for Private and Public company respectively. At any time during the company’s existence, the number of directors shall not reduce below from the limit. The company must appoint a new director(s) within 6 months if the number reduces below 2/3.

Documents required for Addition or Removal of director

Photograph

Passport size photograph of the director to be appointed

PAN Card

Self-attested PAN card of the director to be appointed

Proof of Residence

Aadhar Card/ Voter ID/ Passport/ Driving License director to be appointed

Digital Signature Certificate

DSC of the continuing director and director to be removed

Change directors in 3 Easy Steps

1. Answer Quick Questions

Pick a Package that best fits your requirements
Fill in our questionnaires that take less than 10 minutes
Provide basic details & documents required for registration
Make payment through secured payment gateways

2. Experts are Here to Help

Assigned Relationship Manager
Preparation of necessary documents
Preparation and filing of Application
Updated MCA master data with modified details

3. Director is Added or Removed

All it takes is 5 – 7 working days*

Process for addition or removal of directors

Day 1

Consultancy for requirement of change of directors
Collection of basic Information & documents
Application for DSC (for director to be appointed)

Day 2 - 4

Drafting necessary resolutions and documents
Provide documents required provided after signature

Day 5 - 7

Preparation of online application
Filing of application for changing directors
Sharing master data from MCA with updated information

Our Clients

Have Questions? Find Answers Here

What should I know before changing directors in Private Limited Company?

While carrying change in the board of directors, the company must obtain consent from its Board and members, as required by passing a resolution. Further, the care must be taken that the number of directors does not fall below the statutory limit after removal or resignation.

What should I do if number of directors) in my company is less than 2/3?

If the total number of directors is less than the number prescribed, the company shall appoint a directors) in the company to fulfill the requirement within 6 months from removal/resignation/death of the concerned director.

Can I resign myself from the company?

Yes, a director can voluntarily resign. The notice of resignation must be served to company stating reason of resignation. Also, the resigning director needs to file a form for intimation to MCA about his resianation from companv.

What are the pre-requisites to add a director in company?

An individual to be added as a director must be major and qualified under the Companies Act, 2013. For the appointment, the consent of the members is also required.

Do I need to apply for another DIN, if I have already procured one?

No, you are not required to obtain another DIN. It is permanently allotted and can be used for a person's subsequent appointment in any company/LLP.

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