Resignation of whole time director

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Pravin Mishra (Querist)
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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.

Ajay Mishra

Ajay Mishra (Expert)
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17 August 2012 Hi

You only File Form-32 of resignation of WTD with ROC.

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Pravin Mishra

Pravin Mishra (Querist)
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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?

Ajay Mishra

Ajay Mishra (Expert)
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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.

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