RESIGNATION OF DIRECTOR
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 August 2010
How does a director resign from the board in a Pvt. Ltd., firm if the Board fails to accepts his resignation ?
CA Sanat Pyne
(Expert)
05 August 2010
There is no provisions in the Companies Act, relating to the resignation of his office by a director of a company. If there is any provision in the articles of the company giving the right to a direction to resign at any time, the resignation will take affect without any need for its acceptance by the Board. Where a director is elected or has contracted to act for a fix period, his resignation before the expiration of the period may make him liable for damages, unless the articles permits such resignation. In the absence of a provision in respect of resignation under the Act or under the articles of the company, the resignation tendered by a director unequivocally in writing shall take effect from the time when such resignation is tendered. It is advisable that the resignation should be in writing and also indicate the time when it is to take effect. The Directors cannot refuse the resignation of a co-director unless such a provision is there in the Articles of Association of Company.
VINOD ARORA
(Expert)
05 August 2010
The resignation process is generally incorporated in the Articles of Association of the company, which is required to be adhered.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Gst registered proprietorship firm
- TDS on Fixed Assets purchased
- TDS on purchase of under construction property from a reseller
- SALARY CAN BE CAPITALIZE
- Non filing of I T Returns
- Capitalgain tax purposes for valuation report compulsory
- GST Intimation due to Government took possession of Business Premises under PPE Act
- TAX AUDIT ON PROFESSIONAL INCOME
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
