Directors resignation

MCA 521 views 2 replies

Ankit Saha

MBA

44 Points Joined October 2012

Director of a pvt ltd company resigned and form 32 was filed at a later date with penalty. Pl ennlighten me on

If he is responsible for any decisions taken by the board between date of resignation and date of submission to RoC?
Can he participate in board meetings as a director during the interium period?

thanks

Ankit

Replies (2)

CA Saroj Kumar

Keen to learn something new every moment

2588 Points Joined June 2010

Dear

As per the provision coantained in AOA the director regisnation will accordingly take effect.

If AOA reuires that regination will be effected when it is

accepted by Board or

On Submission to ROC,or

Director is MD/WTD.

If article dores not Contained any requirement then its shall come into effect when it prsented before BOD either in written or oral as per procedure laid down in AOA.

1. Hence answer of Q1 will depend on Regination Accpetance, till his regination will not be accpeted he shall be held lible.

2. He can't participate in any proceeding of BOD once his regination is accpeted by the board.

P C Agrawal

Registered independent director Past Ch

8229 Points Joined March 2007

Pl refer the date of cessation shown by you in form 32. Director will not be liable for decisions taken after that. Since he has ceased to be a director from that date, question of his attending Board meeting after that date does not arise.