Directors are nominated by the shareholders of a company for the management of a company. A private limited company is required to have a minimum of two Directors and a limited company is required to have a minimum of three Directors. Any changing in the Board of Directors of a company should better be made as per the provisions given in the Companies Act of 2013, the AOA of the company, and also as per the agreed service agreement, if any. Again, the need for changing directors in a company must be duly justified and approved by the shareholders of the company. Here it may be noted that making a change in director means either removing a director from the BD or appointing a new director to the BD as an additional director. The section below deals separately with the procedure for change in directors of a private or public limited company in India.
Noteworthy here are the facts that as per the new Indian Companies Act of 2013, a private limited company and an LLP company must have at least two directors always. On the other hand, a public limited company must have a minimum of three directors at all times. In the general cases, a company could have a maximum of 15 directors. Again, a foreign national can also become a director in any of these types of companies in India, provided he/she meets the requirements prescribed for becoming a company director. For making appointment of a new director concerned is the Section 160 of the Indian Companies Act of 2013, while the Section 168 is relevant for getting resignation/removal of a director from the BD of a company.