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Resignation by All Directors and Appointement of New Directo

Monish (CA Student) (29 Points)

19 April 2010

Dear All

IF in a private limited all (4) directors wat to retire and all of the shareholders are transfering the shares to new share holders out of whihc new directors need to be appointed.

Like transfering the ownership of company from group of people to other.

What will be the procedure

Thanks in advance.

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CA.SKR (CA; CS-Final (One Group); DISA (ICAI); Insolvency Professional) (442 Points)
Replied 19 April 2010

First appoint at least 2 new directors as additional directors in the BM. Form 32 of new directors to be filed by any one out of old directors. Thereafter, resignation of all 4 old directors and also transfer of shares from old shareholders to new shareholders may be considered in next BM. Form 32 of all old directors is to be filed by new directors. With this, there will be complete change of management and shareholders of the private limited company in question.

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