Question 31 of 43
Q.How can a director resign from his office? Explain.
Gujarat GsebGujarat Board (GSEB) HSC Commerce Board 2025Subjective· 3mImportance★★★★★
72% · 31/43 Questions
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Start your 14-day free trial to unlock the full solution →A director resigns by giving written notice to the company; it takes effect on receipt (or the date stated, whichever is later); the company informs the Registrar, and the director too may file his reasons with the Registrar.
A director need not continue against his will; he can resign from office. The procedure is as follows:
- Written notice — the director submits a written notice of resignation addressed to the company/Board of Directors, stating that he wishes to resign and, if he chooses, the reasons for it.
- Effective date — the resignation becomes effective from the date on which the company receives the notice, or the date mentioned in the notice, whichever is later. Importantly, the director remains liable for acts done during his tenure.
- Board's action — the Board takes note of the resignation in its meeting and records it in the minutes.
- Intimation to the Registrar — the company must inform the Registrar of Companies of the resignation and note it in the register of directors. The resigning director may also forward a copy of his resignation, along with the reasons, to the Registrar within the prescribed time. …
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