Is there a provision in the company law that a director can resign any time if he wants. If the directors have resigned and the board has taken 3 months time to appoint any new director what will happen. IS there any time frame to appoint a new director
Can an existing director resign without appointing new director
31 March 2009
Director can resign but this process needs to follow: Pass resolution for his resignation in the Board Meeting ,file form 32 for his cessesion and if you have only two director then appoint some other person as director to fullfil the requirement of minimum directorship
Check articles provision whether it permits additional director or director in casual vecancy and through same form 32 you can appoint new director
Existing director can resign without appointing new director if remaining directors strength does not falls below minimum.
31 March 2009
The Director can tender his resignation letter as and when he wishes.
But it is the duty of the Board of Directors to take the decission when to communicate acceptance.
The directors should not accept if the number of directors will fell below limit of 2 in the case of private limited company and 3 in the case of public limited company and also if the the director is involved in day to day activities of the company unitl the reports or charge change over has been made.
The new director has to be appointed before accepting the resignation if the number of directors after accepting the resigantion will fall below the stautory minimum required by law.
If there are sufficient number of directors the Board can accept the resignation and new person can be taken depending on the requirement.
19 May 2012
Part-time Directors can resign merely by submitting his letter of resignation to the Company and his resignation will take effect from the date of resignation.However, if the No. falls below the statutory minimum, then additional directors can be appointed throgh EGM.Alternatively, new directors could be appointed before the effective date of resignations of the earlier directors.BoD of a Pvt. Ltd. Company cannot appoint directors to fill casual vacancy.
19 May 2012
Part-time Directors can resign merely by submitting his letter of resignation to the Company and his resignation will take effect from the date of resignation.However, if the No. falls below the statutory minimum, then additional directors can be appointed throgh EGM.Alternatively, new directors could be appointed before the effective date of resignations of the earlier directors.BoD of a Pvt. Ltd. Company cannot appoint directors to fill casual vacancy.
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