TOPIC 11: QUICK REFERENCE TO “Removal Of Directors”

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Quick Reference to "Removal Of Directors" :-
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Legal Provision:-
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Section 169 of Companies Act, 2013.
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Points:-.
1. Section 169 is applicable to All Companies.
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2. Ordinary Resolution in the General meeting is required.
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3. A Special Notice is also required for removal of Directors.
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4. Special Notice can be given by person holding atleast 1% of total voting power or holding value of shares of Minimum ₹ 5 lakh.
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5. A director appointed by NCLT u/s 242 and Nominee Director cannot be removed from the Company.
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6. New Director who is appointed in place of director removed shall hold office until the date upto which the Director removed would have held office if he had not been removed.
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7. If no person is appointed then the BOD can fill the vacancy as Casual vacancy.
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8. The removed director shall not be reappointed.
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9. Form DIR-12 is required to file with ROC for removal of Directors.
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REGARDS
ACA SOURAV BAGARIA