Resignation of executive director from directorship
Querist : Anonymous
The other 2 directors are not permitting for the resignation. Is there any other way out?
Firstly you check your articles thereon, what it says.
The director who are going to give their resignation can not be restrict by other director. He is free to give his resignation.
Querist : Anonymous
is there ny diference between the managing director and executive director?
Firstly check what your articles says thereon.
A director may at any time resign his office of director. Since there is no provision making acceptance of resignation necessary, a director vacates office on giving notice of his resignation. There will be no need that the resignation should be accepted by the Board of directors at the meeting.
Querist : Anonymous
Refer to The Madras High Court judgment in T Murari v. State of Tamil Nadu (1976) 46 Com Cases, 61 (Mad) wherein it was held that:
“In the absence of a provision in respect of resignation under the Act or under the articles of association of the company, the resignation tendered by a director or Managing Director unequivocally in writing will take effect from the time when such resignation is tendered.”
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