ADDITION OF DIRECTORS
Since a company is an artificial judicial person created by law, it can only act through the natural persons. Shareholders of the Company elect Directors to manage the affairs of the Company only living persons can be Directors of the company whereas management of a company is entrusted with the Board of Directors. The Board of Directors can appoint Directors for the company from time to time.
Director Identification Number (DIN) and Digital Signature Certificate (DSC) are mandatory requirements to appoint a person as a Director.
Any person whether Indian Nationals or Non-Resident Indians or Foreign Nationals
LEGALRAJ will assist you in the appointment of director in your company. The average time taken to file for appointment of director is about 1 to 2 working days, subject to government processing time and client document submission.
Types of Director in a Company
1. Executive Director: Executive Director is in full-time employment of the Company. He looks after the day-to-day business affairs and administrative functions of the Company. Executive Directors can draw salary, attend board meetings and represent the Company in the World.
2. Non-Executive Director: Non-Executive Director is not engaged in the day-to-day business affairs and administrative functions of the Company. He is entitled to attend Company Meetings and can provide professional services to the Company. Being a Non-Executive Director, he cannot draw salary firm the Company.
3. Managing Director: Managing Director is a Director who is entrusted with substantial powers of management of the affairs of the company. The Roles and Responsibilities of the Managing Director are governed by the Articles of Association or the Agreement between the Company and such Director.
4. Additional Director: Board of Directors of the Company can appoint a Director between two annual general meetings subject to the provisions of the Articles of Association of a company. Such Director is called Additional Director. He can hold office only upto the date of next Annual General Meeting of the Company.
5. Alternate Director: In cases where Original Director is absent for a period of not less than three months, Alternate Director may be appointed by the Board of Directors to act for and on behalf of such absent Director.
How we help with appointment of director
1. Consultation: As there are complexities involved from Legal and Financial point of view, we can assist you with the procedure for adding a Director and matters related thereto.
2. Board Resolutions: Once the type of Director is determined, we will provide timelines, documents and do the compliances for you.
3. Filing of Forms: We will timely file applicable returns, documents and other formalities with the Ministry of Corporate Affairs to register the addition of new Director.