Company share holder resignation process
Querist :
Anonymous
(Querist) 12 August 2018
This query is : Resolved
We are a Limited company from West Bengal, We have 3 promoting Director with share and 4 key employee cum promoting shareholder (5 Lac authorized capital).
Now 1 key employee cum promoting shareholder has placed his resignation, as per our terms he has to serve 6 months notice period, at the end of notice period we will give him a Provisional release letter and release him from day to day activity. And the final release letter we will provide after the Roc shows new name after his share transfer.
In the Provisional release letter, we include some condition that is "Being a key employee cum promoting shareholder and a key board member of the company you have lots responsibility, we are releasing you from day to day activity but you need to report if any issue arises and for your share transfer to another person and to reflect that change in ROC will take 1 year max, upon those confirmations we will give you final release letter"
Dr J C Vashista
(Expert) 13 August 2018
What is your identity and locus standie to this question paper?
Guest
(Expert) 13 August 2018
Is this information for the experts and other readers to note or a query for seeking solution to a problem?
However, if some problem, it is your commercial query and you may better take appropriate consultancy from some expert by showing all the related records, including the M&AA to help taking care of the basics of your company and the responsibilities of the directors and the processes for their relinquishment
Guest
(Expert) 13 August 2018
All those conditions mentioned by your self will be Legally Valid only if those were made in the Board resolution in Board Meeting already Please.
