Changing the director of a company is a critical process that must comply with the provisions of the Companies Act, 2013. Whether you’re appointing a new director, resigning an existing one, or replacing a director, Ractax offers end-to-end services to ensure a smooth and legally compliant transition.
What is Director Change?
Director change refers to the process of appointing, resigning, or removing a director from the Board of Directors of a company. This process involves updating records with the Ministry of Corporate Affairs (MCA) and ensuring compliance with statutory requirements.
Why Change a Director?
- Expansion: Adding directors with expertise for business growth.
- Resignation: A director stepping down due to personal or professional reasons.
- Non-Performance: Replacing directors who are unable to meet expectations.
- Compliance: Appointment of additional or independent directors as required by law.
Types of Director Changes
- Appointment of a New Director
- Resignation of an Existing Director
- Removal of a Director
- Change in Designation (e.g., from Director to Managing Director)
Why Choose Ractax for Director Change?
- Compliance Experts: Our team ensures all legal and procedural requirements are met.
- Quick Turnaround: Seamless execution to avoid operational delays.
- Hassle-Free Process: We handle documentation, MCA filings, and board resolutions.
- Transparent Pricing: Affordable services with no hidden charges.
Documents Required for Director Change
- Digital Signature Certificate (DSC) of the outgoing and incoming directors
- Director Identification Number (DIN) of the incoming director
- PAN card and Aadhaar card of the incoming director
- Consent letter of the incoming director (Form DIR-2)
- Resignation letter from the outgoing director (if applicable)
- Board resolution for the director change
Steps Involved in Director Change
- Board Meeting: Pass a resolution approving the director’s appointment, resignation, or removal.
- Consent & Documentation: Obtain the required documents from the incoming/outgoing director.
- MCA Filings: File necessary forms, such as DIR-12, with the Registrar of Companies (RoC).
- Update Registers: Make necessary changes in the statutory registers and company records.
Key Deadlines for Filing
Form DIR-12 must be filed within 30 days of passing the resolution.
Non-compliance may lead to penalties and disqualification of directors.
Benefits of Professional Assistance from Ractax
- Error-Free Filing: Minimize the risk of rejection or penalties.
- Regulatory Updates: Stay compliant with the latest amendments in company law.
- End-to-End Support: From board resolutions to MCA filings, we handle it all.
Let Ractax Handle Your Director Change Process
Changing a director doesn’t have to be a complex task. With Ractax, you get professional, reliable, and hassle-free services that ensure compliance at every step.
Contact Us Today to manage your company’s director changes effortlessly!