IVa14

DO YOU HAVE A CASE WHERE THE OFFICE OF A DIRECTOR STANDS VACATED UNDER SECTION 283?

1. Verify the instances in which the office of a director becomes vacated as mentioned in section 283(1)(a) to (e).

2. Convene a Board Meeting after giving notice to all the directors of the company as per section 286 and pass the necessary Resolution directing the Secretary of the company to inform the concerned director.

3. In form the director immediately about his vacating the office.

4. If the office of the director becomes liable to be vacated for any of the following three reasons, namely:—

i) the director is adjusted an insolvent;

ii) the director is convicted by a court and sentenced to imprisonment for 6 months or more;

iii) the director becomes disqualified by an order of the Court restraining fraudulent persons from managing companies under section 203, then see that the office of the director gets vacated not before thirty days from the date of the adjudication, sentence or order,

then see that the disqualification takes effect only after thirty days from the date of the adjudication, sentence or order.

5. If in any of the above three cases an appeal is preferred, then see that the office of the director gets vacated not before seven days from the date on which such appeal is disposed of.

6. If in any of these cases a further appeal is preferred within the aforesaid seven days, then see that such vacation takes place after such further appeal is disposed of.

7. File Form No.32 in duplicate with the concerned Registrar of Companies within thirty days of the vacation of office of the director to notify the change after paying the requisite fee as prescribed under Schedule X to the Companies Act, 1956, either in cash, postal order, or treasury challan. Postal order is accepted up to Rs.50/-.