Office shareholders director stands vacated

Verify the instance in which the office of a small shareholders director becomes vacated as mentioned under rule(7) of the companies rules 2014.

Convene a board meeting by giving notice to all the directors of your company as per section 173 of the 2013 act. Pass the necessary resolution directing the secretary of the your company to inform the concerned director.

Every officer of the company is punishable with a fine of Rs.25,000. This offence by amalgamation of the regional director or any officer authorized by the government. Inform the director immediately about his vacating the office, by way of a letter.

File the concerned ROC in e-Form DIR-12 in electronic mode within thirty days of the vacation of the office of the small shareholders director to notify the change. After paying the requisite fee given in the table of fees annexed to companies registration office and payment of fees rules 2014.

The said e-Form is electronically filed with ROC. The director or secretary or managing director is signed digitally.

Company secretary or cost accountant or chartered account are certified in whole time practice by digitally signing in the e-Form.

The offences mentioned in Item No 3 and 7 above are compoundable by the regional director or authorized central government officer.

The rule 7 of the companies (appointment and qualification of directors) rules 2014 for vacation of office of a small shareholders director as given below:

(a) if he becomes disqualified by virtue of section 164

(b) if pursuant to section 167 of the 2013 act

(c) if he ceases to meet the criteria of independence.

Your company does not appoint or engage the small shareholder director in any capacity whether directly or indirectly for a period of 3 years. After the small shareholder director ceases to hold office as a small shareholder director.

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