Death of Director in a Compay - formalities to be completed

[AJITA KHAITAN]

IF ANY ONE CAN PROVIDE ME THE LSIT OF FORMALITIES TO BE COMPLETED IN CASE OF DEATH OF A DIRECTOR OF PVT LTD CO.

[CAGOPALJI AGRAWAL]

It depends on the number of departments, authorities, the company is dealing with.

[Surender Gupta]

If you want to be secure from all corners, it is always better to publish it in the local / national newspaper

[DEV KUMAR KOTHARI]

Call a Board meeting to take note of death of director, casual vacancy and to appoint new director to fill casual vacancy(if required and desired). Accordingly intimate to the ROC by filing rlevant forms and documents. Inform other concerned parties and authoriteis. BAnk- signature patterns to be changed- if the deceased directror was a signatory and for new director if he has to operate a/c. Family of deceased director- can be advised to get suitable changes in shareholding where deceased directro was single or joint holder. Being a private company and a case of death, I do not think that advertisement in news paper is required for administrative purpsoes. Though as a social gesture, some codolence message can be published by company.

AI Summary

Guidance on Steps After Director's Death: Board Meeting, Notify Registrar, Update Signatories, Shareholding Changes Possible A query was raised regarding the formalities required after the death of a director in a private limited company. One response highlighted that the necessary actions depend on the departments and authorities involved with the company. Another suggested publishing the news in local or national newspapers for security. A third response advised calling a Board meeting to acknowledge the director's death, appoint a new director if necessary, and inform the Registrar of Companies with relevant documents. It also mentioned updating bank signatories and shareholding changes if applicable, while noting that a newspaper advertisement is not mandatory but could be a social gesture.