The directors of the company collectively known as board of director perform the function of direction, control and management of the business and affairs of the company and exercise powers of the company. Appointment of directors shall be made by company in general meeting, where articles of company authorize board to appoint director then Board can appoint directors.
Every public company shall appoint minimum 3 directors while a private company shall have minimum 2 directors and a one person company is required to appoint at least 1 director. All companies may have maximum 15 directors which can be exceeded after passing special resolution in general meeting.
Every company shall appoint at least one resident director who has stayed in India for a total period of at least 182 days in the previous calendar year.
For Appointment of directors in a Company following requirement need to be followed in sequential manner as mentioned below:
The company may at the time of incorporation name some persons as first directors in its articles. Where the articles of a company do not provide for the appointment of first directors then the individuals who are subscriber of the MoA shall be deemed to be the first directors of the company until the directors are appointed by the members of the company.
The Companies Act, 2013 prescribed the limit on maximum number of directorship an individual can hold. As per act an individual can hold directorship in maximum 20 companies subject to maximum 10 directorships in public companies. For the purpose of calculating such directorship in public company, directorship if any held in private companies which are either holding or subsidiary company of a public company shall be considered. Alternate directorship shall be included while calculating directorship.
Following type of directors can be appointed by board if authorized by articles of the company:
1. Fee for filing e-Forms for the company having share capital
|S.No||Nominal Share Capital||Fee (in Rupees)|
|1||Less than 1,00,000||Rupees 200|
|2||1,00,000 to 4,99,999||Rupees 300|
|3||5,00,000 to 24,99,999||Rupees 400|
|4||25,00,000 to 99,99,999||Rupees 500|
|5||1,00,00,000 or more||Rupees 600|
|S.No||Period of delays (No of days)||Additional fees|
|1||Upto 30 days||2 times of Normal Fees|
|2||More than 30 days to 60 days||4 times of Normal Fees|
|3||More than 60 days to 90 days||6 times of Normal Fees|
|4||More than 90 days to 180 days||10 times of Normal Fees|
|5||More than 180 days||12 times of Normal Fees|
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