What if one of the two director resigns?

If you have two Directors and one resigns, you have to appoint another person to the board and inform the ROC immediately of the change.

Is a director responsible after resignation?

Resignation of a director Resigning as a director does not absolve you of responsibilities during the time you acted as a director. Even after formal resignation your actions may cause you to remain a shadow director and you will be subject to continuing responsibilities.

What happens if a director resigns?

Even if you are no longer a director, they will expect the full amount of the guarantee to be repaid. Resigning as a director typically means you no longer influence the company’s financial status, and with a guarantee still in place, you may be open to financial uncertainty on a personal level.

What happens if both directors resign from a company?

The section provides that when all the directors of a company resign from the Board, the promoter or the Central Government in promoter’s absence, shall appoint the required number of directors who shall hold office till the directors can be appointed in the general meeting.

Can a company run with one director?

Minimum two individual directors are required Companies Act, 2013, has introduced the concept of One Person Company (OPC) private limited, in which a single individual can start a private limited company. Thus, if you plan to incorporate OPC, you can incorporate it with only one director.

Can both directors resign?

When all the directors resign from the Board, there are no authorised signatory director left in the Company (due to deactivation of DSC of resigning director on filing of DIR-11). Therefore eform for appointment of new director can’t be filed.

Can a Pvt Ltd company have one director?

There is not concept of Board of Directors in a One Person Company as the entity can be managed by a single person. A private limited company has a Board of Directors comprising of a minimum of two Directors to a maximum of seven Directors.

How many directors can resign from a private limited company?

Minimum 2 Directors are required at any point of time. Hence first a new Director shall have to be appointed , then the director wishing to resign may resign. First existing two Directors will appoint a new Director.

How do you appoint an additional director to a company?

First existing two Directors will appoint a new Director. If the AoA allows, then an additional director may be appointed by the Directors themselves in a Board meeting without calling for an general meeting of shareholders. Once the additional director is appointed, then the existing director may resign by giving a resignation letter.

What is the process of replacing a director?

The following is the process of replacement of a Director: A Special Notice must be served at least a fortnight prior to the date when the replacement would take place. The company must inform the concerned Director of the intent to replace him/her. At the meeting, the Director being removed has the right to make his case heard.

Can a company be wound up after the resignation of one director?

A company is in existence till its not completly wound up. Even if Pvt Ltd Company, if there are only 2 directors ( I presume there are 2 directors only) resignation of one of the director cannot be accepted merely by formal resignation unless accepted by Board and Board resolution passed to that effect.