1. Board Resolution: The Board of Directors passes a resolution approving the removal or appointment of a director.
2. Filing Form DIR-12: This form is filed with the Registrar of Companies (ROC) electronically through MCA21 portal. It includes details of the change, director information, and consent letters.
3. Payment of Fees: Applicable fees, based on the company’s authorized share capital, are paid online.
4. ROC Scrutiny: The ROC scrutinizes the form and documents.
5. Issue of Approval: Upon successful processing, the ROC issues an approval order updating the company records.

Benefits:

• Compliance with legal requirements: Ensuring your company maintains up-to-date director information as per the Companies Act.
• Reflecting company changes: Aligning your board with evolving business needs and strategies.
• Enhancing corporate governance: Bringing in fresh perspectives and expertise through new directors.
• Meeting regulatory requirements: Fulfilling obligations for specific licenses or certifications that require specific director profiles.

Late Fees:

Failing to file DIR-12 within the prescribed timeframe attracts late fees as per the Companies Act. The current rates are:

• For companies with an authorized share capital up to Rs. 10 lakh: Rs. 100 per day of delay.
• For companies with an authorized share capital exceeding Rs. 10 lakh: Rs. 500 per day of delay, subject to a maximum of Rs. 10,000.