Dear Friends
Can a Permanent Director resign from the Board of a Private Limited Company? The Articles of Assn is silent on this.
There are 4 First Directors of which one is a Permanent Director and a Majority Shareholder as well and it is mentioned in the Articles that the First Director WILL be the Permanent Director.
Can the Board accept such a resignation and will the ROC accept the same?
There is no such provision of a parmanent director in Companies Act.
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