Removal of Director cum Shareholder/Promoter of the Company

This query is : Resolved

Daniel Benjamin (Querist)
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06 November 2020 Hi, could anyone help explain the process for the following:

Fact: A private limited company having two promoters cum director; having 50%/50% equity shares.

One of the promoter cum director wish to resign form the company.

My questions are:
1. Can a new individual person be appointed as promoter cum director of the above said company? DIR12 has an option "Promoter" in appointment section, could that mean it is possible?

2. Can a new individual person be appointed as director without any expiry/retirement of position as director?

Please advise!

Thanks

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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10 November 2020 1. Yes. New director can be appointed as Promoter-Director.
2. Yes .

Daniel Benjamin

Daniel Benjamin (Querist)
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10 November 2020 Dear Mitesh,

Thanks for the reply, could please advise if we need a EGM or BR to execute this process... and any chance you could share the formats.

Thanks
Daniel Benjamin.

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CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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10 November 2020 Dear Daniel,

Check Articles of Association of your company. If authorised by articles, an additional director may be appointed by the Board , other wise articles needs to be amedned suitably. Alternatively, you can appoint the director in GM as well.