Resignation of whole time director
This query is : Resolved
Pravin Mishra
(Querist)
17 August 2012
Sir,
Company has appointed whole time director for 5 year on 25th April,2010 in board meeting and now in mid of his term, the WTD wants to resign from the board and board is ready to accept his resignation.
Sir, what procedure the Company should follow to effect his resignation.
Company has appointed whole time director for 5 year on 25th April,2010 in board meeting and now in mid of his term, the WTD wants to resign from the board and board is ready to accept his resignation.
Sir, what procedure the Company should follow to effect his resignation.
Ajay Mishra
(Expert)
17 August 2012
Hi
You only File Form-32 of resignation of WTD with ROC.
You only File Form-32 of resignation of WTD with ROC.
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Pravin Mishra
(Querist)
18 August 2012
Thank you sir,
But sir,What if his appointment was made by members in their general meeting, do company require to convey general meeting to accept his resignation or board still have power to accept his resignation when appointing authority is member not board?
But sir,What if his appointment was made by members in their general meeting, do company require to convey general meeting to accept his resignation or board still have power to accept his resignation when appointing authority is member not board?
Ajay Mishra
(Expert)
18 August 2012
Hi
Board has sufficient power to accept the resignation of WTD and MD. So the resignation will be taken in Board Meeting and it will be sufficient no need to take shareholders approval for this.
Board has sufficient power to accept the resignation of WTD and MD. So the resignation will be taken in Board Meeting and it will be sufficient no need to take shareholders approval for this.
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