Resignation of a director

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DIVYESH JAIN (Querist)
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16 February 2015 Dear All,

There is a company of 2 Directors which was formed as per Companies Act, 1956.

Now 1 director in the company wants to resign. My question is, can a company run with 1 director since the Companies Act, 2013 is now applicable and whats the process for the same.

Thanks,
Divyesh Jain

c.bakshi

c.bakshi (Expert)
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16 February 2015 NO...Every Private company must have atleast 2 and Every Public company shall minimum have 3 directors. however, 6 months maximum time period to comply with the provisions of minimum directors for the company. in the absence of the above criteria the company and the authorised person shall deemed to be in default and has to pay penalty

DIVYESH JAIN

DIVYESH JAIN (Querist)
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17 February 2015 Dear Sir,

Thanks for your reply, but then, what about the new provision which states that a company can be formed with 1 director

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