Retirement of director & filing of annual return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 January 2011 The situation is a Director of a pvt lltd company retires on 31.03.20xx. (Totally two directors). Later a new director joins with effecr from 01.04.20xx.

The financial statements were approved in the board on 30.09.20xx. is it valid one old director and the new director who came in only from 01.04.20xx approve the same?

In relation to filing of annual return to the ROC for the FY which director details should be mentioned old director who was director till last date or the new director can be mentioned?

udit sharma

udit sharma (Expert)
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29 January 2011 Yes.. the new Director appointed w.e.f.01.04.20xx can very well approve and sign the financial statements.

In the Annual Return the details of both the Directors have to be mentioned.

God Bless

CS Udit Sharma

Querist : Anonymous

Querist : Anonymous (Querist)

29 January 2011 is it mandatory to mention old director or not? is it fine if dont mention the old director in roc return of form 23AC 23ACA? can u give section reference too for ur reply? and i like to bring to notice retiring director retired only from next year. the return pertains to the year the person was director. also why it is required to file the details of new director who never was a director of the said FY

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Jayashree S Iyer

Jayashree S Iyer (Expert)
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31 January 2011 It will be perfectly in order if one old Director and the new Director approves and signs the financial statements.

In 23AC and 23ACA you will fill in the details of current directors who have approved the financial statements and the Directors Report. No need to fill in the details of retired director.

Only in Form 20B and Schedule V i.e.Annual Return you have to give details of the retired director in the relevant columns.