Resignation of Director

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Ruchi (Querist)

03 September 2010 1. If a director resigns before his tenure from his office in a copany,is his resignation treated as casual vacancy? or just termed as resignation?
2.Is it mentioned in the section 262 that only death or accidents or uncertain conditions are only treated as casual vaccancy or even a resignation before the tenure for any reason can be treated as casual...?
3. If a director resigns then the board can appoint directors as under section 262 or the board should appoint additional directors u/s 260????
can any one solve my query.........thanks

Ankur Garg

Ankur Garg (Expert)

03 September 2010
1. This is certainly a casual vacancy.
2. Yes resignation before the tenure for any reason should be treated as casual vacancy.
3. Yes you can appoint an additional director u/s 260 to fill the casual vacancy.

Revert if there is any doubt

Ajay Mishra

Ajay Mishra (Expert)

03 September 2010 Dear Friend

If a person resigned from the post of director, before his term of office expire, in that case the company have two options either they opt to appoint director under section 260 or 262. Section 262 will apply to public company or subsidiary company.

Regards

Ruchi

Ruchi (Querist)

03 September 2010 Thanks Ankur.........

Ruchi

Ruchi (Querist)

03 September 2010 Ajay.......wot if a company is private?

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