Appointment of Director
Section 152 of Companies Act, 2013 deals with appointment of directors. Such directors need to furnish his/her Director Identification Number (DIN) for the appointment to the company. Every director shall give his consent to hold the office as director and such consent need to be filed with the Registrar within 30 days of his/her appointment. We at Taxoservice will help you to appoint directors for the company.
FAQ on Appointment of Director:
What is the minimum and maximum number of Directors required for the company?
Private Company Minimum-2
Public Company Minimum-3
What are the documents required for obtaining DIN?
- A Digital Signature
- Signed Affidavit from the proposed Director
- Information about the identity and address of the Director is required.
What is the procedure for adding a director?
- A new Director can be added to the Board of Director by passing an ordinary resolution in an Annual General Meeting or an Extraordinary General Meeting. Ordinary resolutions can be passed by a simple majority. Once a resolution is passed, the Company must file the Resolution along with the necessary forms and the Digital Signature of the Managing Director or Secretary of the Company, to the Ministry of Corporate Affairs to appoint a Director.
What are the types of directors?
S.No. Types of Directors Description 1 Resident Director Board of Directors must have at least 1 resident director i.e. a person who has lived not less than 182 days. 2 Women Director Companies with paid up capital of 100 crore or more or turnover of 300 crore or more are required to have at least 1 women director 3 Independent Director Any director other than a managing director, a whole time director, and a nominee director. 4 Additional Director Directors may be appointed by company u/s 161 of Companies Act, 2013 5 Nominee Director Any director nominated by any financial institution pursuant to any law for the time being in force, or of any agreement or appointed by any Government or any other person to represent its interest. 6 Alternate Director May be appointed by a company if the articles confer such power or a decision is passed by a resolution if an independent Director is absent from India for not less than three months. However will have to vacate office when the original director returns. Should also be an independent director.
What are the compliances for directors?
DIR 3 Application for allotment of DIN DIR 12 Appointment of Directors, Key Managerial Personnel and changes among them DIR 8 Director will file with the company disclosure of non-disqualification DIR 3C Intimation of DIN by the company to Registrar DIN Services. DIR 6 Intimation of change in particulars of Director to be given to the Central Government. MR-1 Return of appointment of MD/WTD/Manager MR-2 Form of application to the Central Government for approval of appointment or reappointment and remuneration or increase in remuneration or waiver for excess or over payment to managing director or whole time director or manager and commission or remuneration to directors
Who can be appointed as a Director?
- Any person who has attained the age of 18, is of sound mind, is solvent (not bankrupt) and not convicted by the Court (imprisonment not more than 6 months) can be appointed as a Director.
Who cannot be appointed as a Director?
- Any person who is a minor, is not mentally fit, is bankrupt and is convicted by Court for imprisonment for more than 6 months, cannot be appointed as a Director.
What is the minimum and maximum age for a Director?
- Minimum Age is 18 years and for managing director is 21 years.
- No Maximum Age, however for managing director its 70 years.