What a Nominee Director Can Do?

  Can act as a substitute for Director and make decisions in absence of the main director.

  Can release the official declaration to the shareholders, clients or other stake holders without harming goodwill of the company or any of the directors.

  If the legal authority is decreased without declaring the nominee or legal heirs – the Articles will be safely passed on to the regulatory body or Liquidity Providers for safe custody.

  Nominee Director is a very important and powerful designation in any company.

   Hence, nomination power must be assigned to someone from higher authority in the company.

  Only a director of the company or Corporate Bank account holders who have authority of company’s account in their own name or have a joint account.

    Who Can Nominate?

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    How To Nominate?

    Cancellation Process

Directors need to fill out specific forms that are provided for choosing the nominee. The nominee has to acknowledge the declaration in writing to the concerned directors or authoritative parties. Acknowledgement receipt of the nomination form should be sent to all the shareholders and stakeholders.

Even after assigning Nominee Director, the superior power of the company stays with the owner only, which makes nomination process easy. Nominee cancellation can be made anytime according to will of directors or any authorised person. The process does not require to be mandatorily attested by witness.