Resignation of First Director in Pvt Co
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 June 2011
I am told that a "first director" of a private limited company cannot leave or resign his position.
(a) Is this true?
(b) If so, what is the remedy?
(a) Is this true?
(b) If so, what is the remedy?
05 June 2011
There is no such provision. First director is also free to resign.
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06 June 2011
No there is no such provision. However, there always be two directors in case of private limited company or three directors in case of public limited company
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Querist : Anonymous
Querist :
Anonymous
(Querist)
06 June 2011
Thanks M/s Daruka & Neeraj for your responses.
With regards to this case I would like to give more specific background which is as follows:
1) there are two first directors in the family-run private ltd co. There are no other directors.
2) both the first directors are also the permanent directors.
3) the Memorandum & Articles of the pvt ltd co says that regulations contained in S255 regarding retirement of directors by rotation and appointment in general meetings shall not apply to them.
My question is whether one of the two permanent directors can leave and have a new replacement director notwithstanding what is said under (3) above.
Thank you very much for your help.
With regards to this case I would like to give more specific background which is as follows:
1) there are two first directors in the family-run private ltd co. There are no other directors.
2) both the first directors are also the permanent directors.
3) the Memorandum & Articles of the pvt ltd co says that regulations contained in S255 regarding retirement of directors by rotation and appointment in general meetings shall not apply to them.
My question is whether one of the two permanent directors can leave and have a new replacement director notwithstanding what is said under (3) above.
Thank you very much for your help.
07 June 2011
Yes one director can resign and another can be appointed by Board of Directors.
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