Dear Experts,
One of my clients, registered as a private limited company under the companies act,2013 with Mr. A & Mr. B asa Directors & Shareholders 50:50 on April2019.
Now, Mr. A is going toresign from the said company and needs to transfer his directorship to Mr. C and the shares which he holds also be transfersto Mr.B for 49% and to Mr. C for 1%.
Query:
1. What are all the procedures to complete this process.
2. As per the MOA & AOA the paid up capital was ₹ 5,00,000/- but both of them invested only ₹ 50,000/- each.
How to resolve this issue. Kindly help me with this.
Thanks in Advance.
Director Resignation and Share Transfer Plan: Procedures and Capital Discrepancy Resolution Sought by Company A client, a private limited company, has two directors and shareholders, Mr. A and Mr. B, each holding 50% shares. Mr. A plans to resign and transfer his directorship to Mr. C, while transferring 49% of his shares to Mr. B and 1% to Mr. C. The client seeks guidance on the procedures for this transfer. Additionally, the company's Memorandum of Association and Articles of Association state a paid-up capital of 5,00,000, but only 50,000 each has been invested by the directors. The client requests advice on resolving this discrepancy. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
