Assets of company that gets defunct

There are two directors for a company, one of the director submits his resignation to RoC unilaterally.

Because a company needs atleast two directors to operate the said company is now defunct.

The company has certain assets, IP rights on products and brands, and a unsecured loan.

In such case, what happens to these assets, products and loan of the company?

 

Replies (1)

dear here the question u posted seems to be strange as no director of the company file his resignation unilaterly i.e. through himself he cannot file the form 32 as for filing the form there is requirement to sign the document by the current director of the company. and if so happen that he filed the form 32 with his own signatures, the form cannot be approved from the ROC end. and if such happened that is againest the law and the professional who has also given his certification has gone against the laws. so before resigning by the existing direcot there is need to appoint the other director first and the resignation is required to be accepted in the board meeting.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
ARTICLESHIP 24 August 2026
Chartered Accountant Articles

Rohit KC Jain & Co

New Delhi

CA Inter

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details