ADDING A DIRECTOR

As per Section 149 of the Companies Act, Every private limited company shall have a board of directors consisting of individuals and must have a minimum number of two. One of them must stay in India for a total period of not less than one hundred and eighty-two days in the previous calendar year.

Directors are crucial to play an active role in a company to ensure good governance

Documents Required:

• Passport size photograph
• Self attested PAN Card
• Self attested ID Proof – Voters ID / Passport / Driving License / Aadhaar card
• Latest bank statement/ telephone bill / mobile bill - with name and address clearly mentioned

RESIGNATION OF DIRECTOR

As per Section 168 of Companies Act, The Director intending to resign shall send notice in writing to the Company. The director who has resigned shall be liable even after his resignation for the offences which occurred during his tenure.

The resignation of a director shall take effect from: The date on which the notice is received by the company or the date specified by The director in the notice, whichever is later.

After Resignation of director, it is the duty of the company to intimate ROC, providing reasons.

TRANSFER OF SHARES

Transfer of shares means the voluntary handing over of the rights and possibly, the duties of a member (as represented in a share of the company) from a shareholder who wishes to not be a member in the company any more to a person who wishes of becoming a member. Thus, shares in a company are transferable like any other movable property in the absence of any expressed restrictions under the articles of the company.

Section 2(68) of the Companies Act 2013 provides that the Articles of a private company shall restrict the right to transfer the company’s shares.

A share transfer deed has to be obtained with proper stamp value in the prescribed format duly signed by Transferor and Transferee.

INCREASE IN AUTHORISED CAPITAL

A company may need to expand its approved share capital before giving new equity shares and increasing paid-up capital. Paid-up capital must not exceed approved authorized capital. Consequently, if a company having an Authorised capital of Rs.5 lakhs and Paid-up capital of Rs.5 lakhs might want to enlist new shareholders, it can do so either by:

Increasing authorised share capital and issuing new shares or Transferring shares from existing shareholders to the new shareholders.

CLOSING OF COMPANY

Section 248 states the provisions of strike off of the Company Therefore, it is required for the Company to file all pending Statutory Returns before apply for strike off of Company.

Closing of Company can be done only if the company

• Should not have any Assets and Liabilities
• Not carrying on any business or operation for a period of two immediately preceding financial years
• All bank accounts in the name of company must be closed

CLOSING OF LLP

In case the LLP wants to close down its business or where it is not carrying on any business operations for the period of one year or more, it can make an application to the Registrar for declaring the LLP as defunct and removing the name of the LLP from its register of LLP’s.

Closing of LLP can be done only if the LLP

• Should not have any Assets and Liabilities
• Not carrying on any business or operation for a period of one immediately preceding financial years
• All bank accounts in the name of LLP must be closed

CLOSING OF PARTNERSHIP

When partners are mutually agreed, It is the easiest way to dissolve a partnership firm since all partners have mutually agreed upon closing the partnership firm. Partners can give a mutual consent or may enter into an agreement for the dissolve.

Documents Required:

• Financial Statements
• Application for registration of Partnership (Form VI)
• Certified original copy of Partnership Deed.
• Dissolution Deed
• Proof of principal place of business (ownership documents or rental/lease agreement)
• Self attested of PAN Card of Partnership Firm by Partners
• Self attested PAN of Partners
• Self attested Aadhar of Partners
• Self attested Aadhar of Witnesses