Asso.prof.(commerce & Management) Pg
Accounts Manager
+3 Others

Four of us started a pvt ltd company. However the company didn't go anywhere, and one of the directors has left the country (India). I would like to leave the board of director and free myself from any liabilities arising out of this (currently there are none).
What is the process to do so?
Can this be done with only three of us present?
20th May 2014 From India, Bangalore
Dear Friend,
Getting free from the Post of Board of Director is not a normal procedure, It will depend on several things, initially it depends on your share, and rest 3 directors will agree and finalise your exit in Board Meeting briefing proper causes to leave and hold rest liablities on them selves, they will pass a resolution in writing and copy of resolution will be passed to( Ministry Of Commerce Affairs) MCA through your CA, as well as other departments as Sales Tax/Service Tax ( Where ever company is registered according to the nature of business).
If rest directors are agreed then you may leave, for more clear figure sit with CA with your companies (MOA), he will better suggest you.
Best Wishes.
Manish Srivastava
ISO Consultant & HR
20th May 2014 From India, Lucknow
Hello, You needs to take an advice from Company secretary in this matter. Regards, Ashish
20th May 2014 From India, Pune
1. take resignation from director
2. hold the board meeting.
3. pass the resolution as discontinuation of director.
4. authorize any director or secretary to file form 32 BR
5. file form 32 within 30 days
It is not necessary to approve the resignation. Once it is tendered automatically he is relieved from the duties.
20th May 2014 From India, Pune
Dear SxerR,
The relevant information is provided in the attached notes. I'm not sure whether yours is a regd. co. with RoC under the Companies Act, 1956 or otherwise. Do you hold shares, if so to what extent ? Hope the attached notes will be of some help to you. If you would need any other information, pl.continue the thread.
23rd May 2014 From India, Bangalore

Attached Files
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File Type: docx Resignation of a Director-Companies Act,1956.docx (13.3 KB, 291 views)
File Type: pdf Form32 -Changes in Board of Directors-the Companies Act.PDF (63.9 KB, 191 views)

Dear All,
Could you please tell me what is the penalty for not displaying abstracts inside the establishment.
Ramesh Chandra
13th June 2018 From India, Delhi
Any one have director experience letter (in accounts) ???
6th August 2018 From India, Mumbai
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