Kindly any one let me know if there are only 2 directors in a Pvt Co. and one of them died due to Covid 19, now can only the remaining director is authorised to appoint another new director or he needs to summon general meeting of shareholders to appoint new director.Kindly guide me in this case
Thanks and Regards
Dear Colleagues,
Request to accord inputs on below mentioned query :
In my opinion, following are the documents required by Company to effect Share Transmission in case of Death of member of Company :
1. Death Certificate
2. Probate
3. Succession Certificate ( Not Required, if Probate is shared)
4. Specimen Signature of Successor
5. Share Certificate
It would be great if I can be apprised about any additional thing required to be initiated or out of the mentioned things above, any thing that to be corrected.
Dear Professional friends
If any body has deal the removal of DP due to death in LLP. kindly share the modified deed format in word . and also share how to deal with its share .
share
distrbution
partner
desginated
death
Can anyone please provide me draft documents required for execution of event in case of death of designated partner & Partner in an LLP under llp act, 2008 . we want to execute the death case of partner and appointment of new designated partner in his place and intimate and get it done with ROC , MCA and Other Goverment Authorities .
can you please send me step wise process along with draft documentations .
when to surrender his DPIN etc
accounting treatments and other things i am aware of need legal aspects to be done with ROC AND MCA . part - VIII OF LLP RULES , CESSATION OF PARTNERSHIP INTEREST WILL COME INTO PLAY STILL NEED STAGES AND DETAILED PROCESS AND DRAFT DOCUMENTATIONS .
PLEASE HELP ME IN THIS REGARD ITS VERY URGENT .
24. CESSATION OF PARTNERSHIP INTEREST.—(1) A person may cease to be a partner of a limited liability partnership in accordance with an agreement with the other partners or, in the absence of agreement with the other partners as to cessation of being a partner, by giving a notice in writing of not less than thirty days to the other partners of his intention to resign as partner. (2) A person shall cease to be a partner of a limited liability partnership— (a) on his death or dissolution of the limited liability partnership; or (b) if he is declared to be of unsound mind by a competent court; or (c) if he has applied to be adjudged as an insolvent or declared as an insolvent. (3) Where a person has ceased to be a partner of a limited liability partnership (hereinafter referred to as "former partner"), the former partner is to be regarded (in relation to any person dealing with the limited liability partnership) as still being a partner of the limited liability partnership unless— (a) the person has notice that the former partner has ceased to be a partner of the limited liability partnership; or (b) notice that the former partner has ceased to be a partner of the limited liability partnership has been delivered to the Registrar. 12 (4) The cessation of a partner from the limited liability partnership does not by itself discharge the partner from any obligation to the limited liability partnership or to the other partners or to any other person which he incurred while being a partner. (5) Where a partner of a limited liability partnership ceases to be a partner, unless otherwise provided in the limited liability partnership agreement, the former partner or a person entitled to his share in consequence of the death or insolvency of the former partner, shall be entitled to receive from the limited liability partnership— (a) an amount equal to the capital contribution of the former partner actually made to the limited liability partnership; and (b) his right to share in the accumulated profits of the limited liability partnership, after the deduction of accumulated losses of the limited liability partnership, determined as at the date the former partner ceased to be a partner. (6) A former partner or a person entitled to his share in consequence of the death or insolvency of the former partner shall not have any right to interfere in the management of the limited liability partnership.
If there is a director who was expired on July and the death certificate we got in Nov. So when will take this on record in Board meeting i.e, on which date and in between this July and Nov, there was also AGm held so if take this on Board meeting in Nov then dont we show in AGM? and what about transmission of shares?
Click here to view / answer Share it onIn a LLP, we have three partners
1. One partner has died
2. Other partner is absconding
3. Third partner wants to continue business
What can be the process to remove 1 and 2 and add another partner.
Is there any timeline in which DIR-12 has to be filed due to Cessation of Director due to death has to be informed to ROC?
Thanks In anticipation
Dear Sir
A non designated partnern in LLP died.
what form should we file and within how many days.
Also we dont know who are his legal heirs and their SHARES .so we are waiting for that .
Did any one deal with such case. please let us know!
LLP agreement does not stipulate any clause in the case of the death of a partner. In such case, can we transfer the contribution of Rs.90,000/- of the deceased partner in his wife name after receiving a request letter from his wife in this respect and with the consent of all the partners or shall we ask for legal heirship certificate from tahisildar for admitting his wife as Partner by transferrinf the contribution of the deceased partner in favour of his wife.
New Partner can be admitted with the consent of all the partners as per the LLP agreement. Members may guide in this respect.
contribution
transfer
partner
death
LLP agreement does not stipulate any clause in the case of the death of a partner. In such case, can we transfer the contribution of Rs.90,000/- of the deceased partner in his wife name after receiving a request letter from his wife in this respect and with the consent of all the partners or shall we ask for legal heirship certificate from tahisildar for admitting his wife as Partner by transferrinf the contribution of the deceased partner in favour of his wife.
New Partner can be admitted with the consent of all the partners as per the LLP agreement. Members may guide in this respect.
contribution
transfer
partner
death
Respected Member,
Kindly give your valuable comments on the following query:
ABC Limited, an unlisted public limited company not required to appoint KMP due to paid up capital below threshold limited. But appointed whole time director voluntarily. Now, the casual vacancy arise due to death of Whole Time Director.
Queries:
1. Board can fill casual vacancy in its meeting, then, can new director directly hold the position of Whole Time Director ? What will be his designation as he can be appointed as a director upto the term of old director.
2. What will be situation in the Private Limited Company in which the director appointed is First Director? Because Board can fill casual vacancy of that director only who was appointed in General Meeting.
3. What will be the term of director in Private Limited Company as there is no definite time period mentioned while appointing him and there is no retire by rotation?
Dear Group Members,
one of the director in a private limited company has died .so what is the procedure to be followed for for removing him from the board kindly through some light on this
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Thanks & Regards,
CA Vinod Kumar K
Mob No : 9739219677
Whatsapp : 9032624625
