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    Compliance if Directors are related and if additional director is counted for 2 directors limit

    Posted By : Sachin / Published on : 30-Jan-2021 01:52 PM / View : 113 / Comment : 0

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    Dear Friends,

    In a company with two directors (both shareholders), 1 director wants to exit from directorship and also sell the shares. Since Pvt Ltd n3eds minimum 2 directors first Board will appoint an additional director at BM (this additional director is spouse of director who will stay back) and then director who wants to exit will resign.
    Now my query is:

    1. Will additional director be counted for minimum 2 directors limit in pvt ltd. Since he holds office till AGM, during AGM there'll be only one director right? Isn't this non compliance?

    2. Are there any filings or declarations to be done in case directors are related (like husband and wife)?

    Thank you friends.
    Read more on : directors counted limit director additional related compliance

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