A private company has five directors, Can it introduce 2 new directors and take resignation of all existing 5 directors in the same board meeting ?
6 Replies
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 31 July 2015
Yes, it can be done. First pass resolution for appointment and then for noting resignation.
anita
(trainee)
(514 Points)
Replied 31 July 2015
So we need two separate resolutions or can it be done in a single resolution ?
Tarun
(AM)
(216 Points)
Replied 31 July 2015
No...u need two resolutions. First one to be signed by old directors and second one to be signed by new directors.
anita
(trainee)
(514 Points)
Replied 05 August 2015
If all except one of the directors are resigning , then will we still require two resolutions or it can then be done in one resolution?
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 05 August 2015
Whatever may be the case, it is always a good practice to pass separate resolution for appointment or resignation of each director.
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