case study;- suppose there is 2 director in private company.
after some time both director died in road accident. then tell me what r the legal compliance followed by company or central govt.
2 Replies
Devendra Soni
(Company secretary in practice)
(21 Points)
Replied 16 March 2010
Upon death of all the directors, the shareholders shall have power to appoint new directors in place of them. In case the directors were the only shareholders then in that case their legal heirs will become the share holders in place of them and they shall appoint new directors.
Devendra soni
CA.SKR
(CA; CS-Final (One Group); DISA (ICAI); Insolvency Professional)
(442 Points)
Replied 17 March 2010
What is the time limit for appointment of new directors by shareholders or legal heirs of the shareholders, as the case may be?
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