Company

Querist : Anonymous (Querist) 20 January 2012 This query is : Resolved
I have a query relating to Private Limited Company :

There is a Private Limited Company having One Managing Director and one Director. Managing Director wants to resign from the Company, as there is no business and other Director is not allowing him to windup the company.

1. So, when one Director resigns, can the company exist with only one director ?
2. As there is no business in the Company, there are no chances that a new director joins. So what are the consequenses the other director will have to face ?
3. When the MD resigns, then will the company gets closed ? (As one director cannot be there in a Pvt. Ltd. Company)

Please help me with the above issue.

Thanks & Regards

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Devajyoti Barman (Expert) 20 January 2012
1. Minimum two subscribers are needed to form a Private Company.

2. The Company will cease to exist.

3. Yes

Advocate. Arunagiri (Expert) 20 January 2012
The directors are responsible for any act during their tenure as director.

Sailesh Kumar Shah (Expert) 20 January 2012
If company have no business, go for wind-up. Merely by resignation of director or MD, company couldn't be wind up.

prabhakar singh (Expert) 21 January 2012
NOTHING TO DIFFER.

Raj Kumar Makkad (Expert) 21 January 2012
I have also similar opinion.

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