Add a Director or a Designated Partner in
3 simple steps @Rs. 1,500
- Step-by-step Expert Guidance
- DSC & DIN
- Documentation Review
- Amendment of LLP Agreement
- Fifling of all the necessary forms
Get in touch with a Bright Advis expert.
Introduction
Adding a director or designated partner to a company or LLP involves a formal process that involves several steps. The procedure may vary based on the type of company and the relevant jurisdiction.
A Director is an individual elected by the shareholders to oversee and manage the operations of the company in accordance with its Memorandum of Association (MOA) and Articles of Association (AOA). Since a company is considered a legal entity, it can only function through the actions of a natural person. Therefore, the responsibility of managing the company is delegated to its Board of Directors.
In a Limited Liability Partnership (LLP), the role of designated partners is significant. To form an LLP, a minimum of two partners is required to serve as designated partners. These individuals must be specifically mentioned by name in the LLP’s partner agreement. They are required to obtain a Designated Partner Identification Number (DPIN), a unique identifier for regulatory compliance. Designated Partners contribute to the decision-making process, ensuring effective operation and adherence to legal requirements within the LLP structure.
Types of Directors
The following are the different types of directors:
Executive Director
An executive Director is involved in the day-to-day operations and management of the company. An executive director holds an executive position such as CEO, CFO, or COO.
Nominee Director
Nominee Directors are appointed by a major shareholder, often an investor or a parent company. A Nominee Director represents the interests of the appointing entity.
Woman Director
It is mandatory for certain companies to have at least one woman director on their board, as per regulatory requirements.
Non-Executive Director
A Non-Executive Director is not involved in the day-to-day operations. However, A Non-Executive Director brings external perspectives and often serves on committees.
Managing Director
A Managing Director holds executive responsibilities and often has broad decision-making powers. They lead the company's management team.
Additional Director
An Additional Director is appointed by the board between annual general meetings. Appointment is subject to confirmation by shareholders at the next AGM.
Independent Director
An Independent Director is not affiliated with the company, its management, or any significant shareholders. They provide an unbiased viewpoint and may serve on audit or compensation committees.
Alternate Director
A Director who is appointed by another director to represent them in their absence. They temporarily assume the duties and powers of the absent director.
Documents Checklist
Documents checklist for Adding a Director
Identity Proof
- Document Proof of Partners
- Notarized documents (For Foreign Nationals)
Address Proof
- Utility Bill or Bank Statement
For a Company
- Director Identification Number (DIN)
- Board Resolution
- Form DIR-2 (contains consent form to act as a director)
process
Process of Adding a Director
in 3 Simple Steps
At Bright Advis, we have simplified the entire process of Adding a Director into 3 simple steps. This makes your journey smooth, structured and easy.
- Pre-application
- We collect basic information
- Gather required data
- Board Resolution
- Drafting & Application
- Digital Signature Certificate
- Director Identification Number (DIN)
- Consent of Director
- Intimation to Registrar of Companies (RoC)
- Filing Form DIR-2, Form DIR-12 and Form DIR-8 at ROC
- Completion
Our expert team ensures that the fundamental steps of submitting essential documents like identity and address proofs, and securing the necessary approvals through a board resolution, are efficiently handled. Once these initial steps are completed, our dedicated team at Bright Advis will guide you through any additional formalities and provide comprehensive support, making the director appointment process hassle-free for you.
Eligibility to be a Designated Partner
For someone to become a Designated Partner, the following Eligibility criteria must be met
Age and Competency
The individual must be at least 18 years old and mentally competent to enter into a legal contract.
Consent and Agreement
The person should provide their consent to act as a Designated Partner and agree to be bound by the LLP agreement.
Educational Qualifications
While there are no strict educational qualifications, having a professional or educational background relevant to the LLP's business can be advantageous.
Residency Status
There are no specific residency requirements. One of the designated partners must be an Indian National who resides in India.
No Criminal Record
The person should not have a criminal record or be convicted of an offence involving moral turpitude.
Not Declared Insolvent
The individual should not have been declared insolvent or have undergone insolvency proceedings
Director Identification Number (DIN)
The individual must have a valid Director Identification Number (DIN). If not, they need to apply for DIN as part of the process.
Compliance with Regulatory Requirement
The individual must comply with all regulatory requirements and disclosures mandated by the Ministry of Corporate Affairs (MCA) and the LLP Act.
Documents Checklist
Documents checklist for Adding a Designated Partner
Identity Proof
- PAN card
- Aadhaar Card/Passport/Driving License
- Notarized documents (For Foreign Nationals)
Address Proof
- Utility Bill or Bank Statement
For a Company
- Designated Partner Identification Number (DIN)
- LLP Agreement
- Form 3 and Form 4
process
Add a Designated Partner
in 3 Simple Steps
At Bright Advis, we have simplified the entire process of Adding a Designated Partner into 3 simple steps. This makes your journey smooth, structured and easy.
- Pre-application
- We collect basic information
- Gather required data
- Drafting & Application
- Digital Signature Certificate
- Designated Partner Identification Number (DIN)
- Consent and Agreement
- Board Resolution
- LLP Agreement Amendment
- Filing of Form LLP-3
- Completion
- Verification and Approval
- Updating of LLP Agreement and Records
- Intimate Registrar of Companies (RoC)
What do you get
when Bright Advis manages Addition of Director/Designated Partner
Let Bright Advis manage Addition of a Director/Designate Partner
When you let Bright Advis manage Addition of a Director/Designate Partner, you not only get comprehensive services mentioned on the side, you also get a friend who advices, guides and helps you grow into a great business.
- Gather the details of the business
- Amendment of LLP Agreement
- DSC & DIN
- Filling of all the necessary forms
- Expert advice you can count on
- Our bright support whenever it's needed
Why Bright Advis
There are many reasons why clients choose Bright Accounts, but from our experience we have listed the four main reason why you should go with us.
Bright & Knowledgeable
Bright Advis delivers high quality financial services by a team of bright and knowledgeable experts.
Always happy to help
Bright Advis commit to provide dedicated support and assistance to our clients.
Professional & Approachable
We maintain a high level of professionalism while being easily approachable for our clients.
Easy & Quick
We focus on streamlining and simplifying the complex processes for our clients.
The entire process is managed by Experienced Chartered Accountants and Company Secretaries.
Bought Together
There are many reasons why clients choose Bright Advis, but from our experience we have listed the four main reason why you should go with us.
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Frequently Asked Questions
You can verify the registration status of your company through the MCA website. To do this, visit the MCA website, then navigate to the “MCA Services” section and choose “View Company/LLP Master Data” from the provided options. Type your company’s Corporate Identification Number (CIN) and click “Submit.” Your company status will be displayed.
Existing directors/partners are responsible for ensuring that the proposed individual meets the eligibility criteria, obtaining their consent, and completing the necessary paperwork accurately. They must also update the company’s or LLP’s records and comply with all legal requirements related to the appointment.
The process involves obtaining the necessary consent and approval from the existing directors/partners, filing the required forms with the Ministry of Corporate Affairs (MCA) for Private Limited Companies or Registrar of Companies (ROC) for LLPs, and updating the relevant statutory registers.
Commonly required documents include identity proof, address proof, consent to act as director/partner, declaration of non-disqualification, and any other documents as specified by the MCA or ROC.