Reduction of no. of directors below statutory limit.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 November 2015 We have a private limited company having 2 directors. One of the directors want to resign from the company. Can he file form DIR-12 for the same? Will the DIR-12 get approved? Is the above possible because after his resignation only 1 director will remain? What is the time limit to appoint for the new director if any?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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16 November 2015 Director who is resigning can't file its own DIR-12 form for resignation. There is no time limit for appointment of new director.

However it is advisable to appoint new director before resignation of existing director so that no. of directors after resignation will remain 2 as prescribed minimum by the act