Background:
Private Limited Company had only two directors. One of the directors expired. The second Director is not cooperating to add more directors due to personal interests.
99.8% shares of the company are held by 3 majority shareholders. Remaining 0.2% shares are held with 8 other shareholders.
The three majority shareholders want to move forward and add 3 more directors to the company very quickly.
Questions:
1) Given both directors are not going to be available, what is the fastest process we need to follow to reconstitute the board of directors ?
2) Can shareholders exercise any special powers to add Directors quickly ?
3) Can a Private Limited Company operate with a single director after 2nd director death? For how long and one does it go out of compliance with MCA rules?
4) Is there any sort of online paper filing required with MCA to complete the process by the Director ? In our case since the only Director is not cooperating, what are our options if any papers need to be filed to complete our work for adding directors?
Appreciate any details you can provide to guide me.
Regards
CAclubindia
