Companies act

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sooraj (Querist)
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19 April 2013 I want to know how a director of a company, being the managing director can resign his post and forgo his membership and walk out of the company with the investment and returns on it if any. the company is a pvt ltd company and total number of members is 7, registered in financial year 2010-11

Ankur Garg

Ankur Garg (Expert)
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19 April 2013 First go through the director resignation clause of articles of the company.

Director should convey his resignation and filing of form-32 with ROC is must. Filing of form-32 is the responsibility of the company. He can remain as shareholder of the company and being a shareholder he would not incur any liability.

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