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

PRIME SPONSOR - FACTOHR - Payroll Software with GPS Enabled Attendance, Travel, Performance Management, HRMS. Explore Features
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?
Cite.Co is a repository of information created by your industry peers and experienced seniors sharing their experience and insights.
Join Us and help by adding your inputs. Contributions From Other Members Follow Below...
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
Hello, You needs to take an advice from Company secretary in this matter. Regards, Ashish
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.
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.

Attached Files
Membership is required for download. Create An Account First
File Type: docx Resignation of a Director-Companies Act,1956.docx (13.3 KB, 297 views)
File Type: pdf Form32 -Changes in Board of Directors-the Companies Act.PDF (63.9 KB, 200 views)

Dear All,
Could you please tell me what is the penalty for not displaying abstracts inside the establishment.
Ramesh Chandra
Any one have director experience letter (in accounts) ???
PRIME SPONSOR - TALENTEDGE "Interactive Anywhere Learning". Executive courses from top reputed institutes like IIM, XLRI, MICA. View Courses
Add Reply Start A New Discussion

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2019 Cite.Co™