Md resignation

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Querist : Anonymous

Querist : Anonymous (Querist)

11 May 2014 What is the procedure to be followed and what forms are to be filed with the Registrar if MD has resigned his office as per companies act,2013. urgent I am in need

CA. Amit G. Chandani

CA. Amit G. Chandani (Expert)
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11 May 2014 1. Intimation to ROC in DIR-12 within 30 days from the receipt of resignation + post the information on website of company.
2. Disclosure of director in MBP-1 u/S 184(1).
3. Filing of MGT-14 u/s 117(3)(g).

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Querist : Anonymous

Querist : Anonymous (Querist)

12 May 2014 Thank you very much sir

Querist : Anonymous

Querist : Anonymous (Querist)

28 May 2014 Dear Amit Sir,

I think there is no need to file MGT 14 in the case of MD resignation. Once again pl confirm the issue regarding filing of MGT 14 pl. What kind of disclosure, he needs to be filed as he is going to leave the office of MD. I think you have replied my query by considering it as "Provisions relating to the appointment of MD".If so, pl provide the procedure for MD resignation.

CA. Amit G. Chandani

CA. Amit G. Chandani (Expert)
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28 May 2014 Even at time of resignation, disclosure is required..pls refer section 189(2).

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Querist : Anonymous

Querist : Anonymous (Querist)

28 May 2014 So, in the case of MD resignation, no need to file Form.MGT-14 as it is not having any kind of special resolutions ????? Thank you very much for giving the reply for my questions by spending your valuable precious time.

CA. Amit G. Chandani

CA. Amit G. Chandani (Expert)
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28 May 2014 Board Resolution is passed u/s 179(3)(k) for this purpose which is also required to be filed through MGT-14 u/s 117(3)(g)

Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2014 Dear Sir,

Pl confirm the total procedure for resignation of director / MD:

1. Director shall give a notice of his resignation.

2. Board shall take note of that and file Form MGT-14 - Sec.117(3)(g) read with sec.179(3)(k) and rule 8(2) of (CH-12-Meetings of Board & It's Powers)

3. Co has to intimate the Registrar within 30 days from date of receipt of notice of resignation.

4. Post such info on website, if any.

5. Director shall also forward the copy of his resgn to ROC with detailed reasons to ROC within 30 days of resignation. - Sec.168 read with rule 7 (Appointment and Qualification of Directors)

6. Disclosure of interest - in Form MBP1 - Sec.184(1) read with sec.189(2)

7. Rsgn is effective from date of receipt of notice of resgn

8. Place such fact in BOD report laid in the immediately following GM by Co.