ABDUL AZEEZ.T.K (Practice) (40 Points)
26 July 2013In a Private Limited company, a Director, who died in the last year as on 20-05-2012, the company didnt take any proceedure about this matter. Now the Client approch me to solve the Issue and also to do the transmission proceedure ?
What steps to be taken in this time after one year.
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 30 July 2013
1. Ensure that there are at least 2 directors and 2 members after death. If necessary, fill up vacancy by appointing new director.
2. File Form 32 for changes in directors with additional fee.
3. Ask the legal heir to make application to the company for transmission of shares held by the deceased director in his favour alongwith copy of succession certificate and other required documents.
4. Note the transmission by passing Board resolution.
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