Resignation from dirctorship

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 January 2015 Sir,
I wish to clarify a doubt regarding resignation of directorship & transfer the shares.
i.e. M/s KT Forex Pv5 ltd has two Directors cum Share holders.Now one of them wants to resign from the directorship & transfer the shares to the other continuing person.

Is it possible to file the resignation & transfer the share by the resigned director himself?

If not what he will do?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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03 January 2015 yes

A director may resign from his office by giving a notice in writing to the company and the Board. A director shall forward a Copy of His Resignation Along With Detailed Reasons for the resignation to the Registrar within 30 (Thirty) days of resignation through filing of Form DIR.11 under his Digital Signature

for transfer of shares you may refer the link below;

http://taxguru.in/company-law/procedure-transfer-shares-companies-act-2013.html

Querist : Anonymous

Querist : Anonymous (Querist)

03 January 2015 As I have mentioned in that company only two directors.Out of them one person has to resign. Is it possible & allowable? Because Min. two directors are required to run the company(Pvt).So in this situation resigned person can file the resignation by DIR 11?

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CA NAVEEN SINGLA

CA NAVEEN SINGLA (Expert)
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03 January 2015 In place of retiring Director some director should be appointed before the resignation rather co. can accept resignation on the same day of appointment of another director or thereafter.

In respect thereof DIR-12 should be filed alongwith the attachments

Appointment Letter
DIR-2 Consent of Appointee Director
Notice of Resignation
Evidence of Ceasation
Interest in other Entity

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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03 January 2015 A period of one year has been provided to enable the companies to comply with the requirement of Minimum/Maximum Number of Directors in a Company- Section 149(2)

Querist : Anonymous

Querist : Anonymous (Querist)

03 January 2015 Thank u so much for your reply