Change i desigation of a director of nbfc company

shevya (Querist)
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04 April 2016 changing in Director desigation of a NBFC company...there is any other rules for it under RBI ??
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CS Ankur Srivastava (Expert)
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07 April 2016 for this you need to comply with Companies Act, 2013

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shevya (Querist)
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11 April 2016 so there is no other rules under RBI ???

CS Ankur Srivastava (Expert)
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11 April 2016 No.....For this purpose you have to inform the changed composition of the Board to RBI.

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CS Ankur Srivastava (Expert)
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14 April 2016 Hope you are satisfied now.....

shevya (Querist)
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14 April 2016 so it mean there is no need to inform to RBI regarding change in designation of director .

CS Ankur Srivastava (Expert)
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14 April 2016 You have to just inform the changed constitution of your Board to the RBI after the change takes place as i have written in the above reply.

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shevya (Querist)
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14 April 2016 then what is required format and procedure for intimation to RBI?

CS Ankur Srivastava (Expert)
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14 April 2016 Just a simple letter with the revised list of Director.

shevya (Querist)
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14 April 2016 sir, But the composition of the director does not changed, only their designation changed from non executive to WTD .
Kindly provide the sample letter for the same

CS Ankur Srivastava (Expert)
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14 April 2016 Just report :

Please find revised / updated list of Directors of the Company for your records.

Please take the same on your records and oblige.

Thanking you.

Yours Faithfully,
For.............................

Director/ CS

Attach a list of Director..

shevya (Querist)
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14 April 2016 List of director for your reference,

Before Change:

Name of Director Designation
Rajesh Kumar Gupta Non-Executive Director
Prem Prakash Agarwal Non-Executive Director

After Change:

Name of Director Designation
Rajesh Kumar Gupta Whole-Time Director
Prem Prakash Agarwal Non-Executive Director

CS Ankur Srivastava (Expert)
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14 April 2016 Go Ahead.

All the best.

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shevya (Querist)
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14 April 2016 And Sir, what is time limit for giving intimation to RBI and also If if intimation not given within time limit which is Prescribe, then what will be consequence?

CS Ankur Srivastava (Expert)
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14 April 2016 There is no time limit or penalty prescribed, it is just you should intimate RBI for the same at the earliest.

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shevya (Querist)
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06 May 2016 If we Reprint MOA and AOA of a company. And also Change name of subscribers in new one.. Is this type of any Alteration of MOA and AOA ?

CS Ankur Srivastava (Expert)
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07 May 2016 Not possible... promoters cannot be changed in future....

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CS Ankur Srivastava (Expert)
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07 May 2016 Subscriber to the memorandum are the persons who have subscribed the shares of the company during the time of incorporation, they can not be changed, even the names of first directors can not be changed in the AOA.

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shevya (Querist)
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08 May 2016 sir, if we reprint MOA or AOA of a company.without any changes then what procedure we have to follow?

CS Ankur Srivastava (Expert)
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09 May 2016 Re printing may be done on need basis but there should not be any change in the Memorandum and Articles of Association.

There is nothing to be followed for just reprinting.

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