PVT. LTD. Company
Raj
(Querist) 10 October 2009
This query is : Resolved
I registered a PVT LTD Company in Mumbai few years back and due to some circumstances could not operate it or did not do any business. Till date i have not even filed a written with IT department or opened any Bank Account. The Company has two Directors from which one doesn't wish to carry on with me.
Q. Can i carry on with the Company without the other Director ?
Q. Is it correct to manage and run a company with a single Director ?
Q. How do i make it clear that the other Director is retired legally ?
Raj Kumar Makkad
(Expert) 11 October 2009
There is no hurle to carry on your company despite of single director. If another director is desirous to leave the company, he may tender his resignation and the same can be accepted and company can run without him, if u desire.
Sachin Bhatia
(Expert) 11 October 2009
1) Yes you can carry on with the Company without the other Director.
2)Yes there is no restriction to manage and run a company with a single Director.
3) Take the resignation of the retiring director.
A V Vishal
(Expert) 11 October 2009
Sorry Mr Makkad and Bhatia
Please don't give such replies which are misleading, refer the companies act and see that the requirement for minimum number of directors required for a company in case of a private limited company, Mr Raj cannot carry on business in the company with just 1 director it is ultra vires.
joyce
(Expert) 11 October 2009
Raj, As per A.V Vishal u just go thru the companys Act, where u will fing how many people can make a company formation, its procedures, memmorandum of association, articles of s\associations, etc.. about dissolution of partnership and all you need so refer the book. instead with net.
Raj
(Querist) 12 October 2009
Does anyone know the Company Act of Mumbai (Maharashtra) ?
A V Vishal
(Expert) 13 October 2009
What is that Raj, does mumbai have its own companies act, I have been practising corporate law for 15 yrs and I have read and practised The Companies Act which is applicable throughout India including Mumbai, its interesting to hear that Maharastra has its own companies act.
Raj
(Querist) 13 October 2009
Mr. Vishal,
i have mentioned Maharashtra in bracket. Still my writing format is wrong but u can get my point clear that i don't know the companies act and people like u who are practicing Law for 15 years are father to us so Please ignore the matter and guide me that whether Single Director can run a PVT LTD COMPANY or not.
with smile
RAJ
A V Vishal
(Expert) 13 October 2009
NO, A COMPANY WITH SINGLE DIRECTOR IS ULTRA VIRES AND CANNOT RUN
Raj
(Querist) 15 October 2009
Lets lock it,,,
