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Who is Director in a Company?
“Director” means a director appointed to the Board of a company. Directors are the said to be brain of the company. They are the managerial personnel who control and administer the company’s operations. The rotation of directors takes place in one or the other way – either by appointment of new director or resignation of existing. Aim to carry out change of directors is always to ensure optimum combination of experts on board for interest of company.
Reasons of appointment of Director in a Company.
- – Can Hire new talent on board
- – When the specified statutory number of directors reduces, then it is mandatory for a company to appoint a new director.
- – To help the shareholders assign more operational responsibilities without losing any strategic control.
- – Inability & unwillingness to work by existing directors
- – When there is sudden death or plans of retirement / resignation or other personal reasons, if the existing Directors are unable to work for a long time, in such cases appointing an additional director is necessary to meet the statutory limit of the company.
ComplianceIndia can help you understand how to register and maintain Appointment of Director quickly and hassle-free
What is minimum number of directors?
- Public Company: Minimum 3 directors all time
- Private Company : Minimum 2 directors all time
- One Person Company : Minimum 1 director all time
How we Work?
Documents Required for Appointment of Director
Our charges for filing of Directors Appointment starts from Rs. 1,999/-.
Frequently Asked Questions
1. Who can Appoint a Director in an Organization?
Primarily, the shareholders of an organization can appoint a director by following the provisions of Section 2(34) of the Companies Act, 2013. The Govt. of India may appoint a Nominee Director in case of mismanagement or oppression.
2. Can a Body Corporate be appointed as Director?
No, a body corporate cannot be appointed as a Director. Only an individual (natural person) can be appointed as a director in a company.
3. Are NRI’s / Foreign Nationals can be appointed as a director in an Indian Company?
Yes, an NRI or a foreign national can be appointed as a director in an Indian Company after obtaining the DIN. However, in the board of the director, there must be atleast one director who is Indian resident.
4. How to transfer the shares while change of director in the company?
The shares of the company shall be transferred by way of executing the Share Transfer deed and by affixing the stamps as per the rates mentioned in the Stamp Act of the concerned State after the change.
5. Whether director needs to subscribe shares for his appointment?
There is no requirement to subscribe the shares by the director. However, if the Articles (AoA) of the company prescribe for any such subscription, it must be fulfilled as a condition for his appointment.
6. What are the pre-requisites to add a director in company?
An individual to be added as a director must be major and qualified under the Companies Act, 2013. For the appointment, the consent of the members is also required.
7. Can a person be appointed as director in more than one organization?
Yes. Section 165(1) of the Companies Act, 2013 states that an individual can hold upto 20 directorships in organizations.