liability of director

This query is : Resolved

M.D.SHARMA

M.D.SHARMA (Querist)
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06 February 2009
author : M.D.SHARMA

Posted On
21 January 2009
PL ADVISE:-
1TIME LIMIT AFTER A DIRECTOR HAS RESIGNED,FOR THE ACTIONS DONE BY HIM DURING THE PERIOD HE WAS DIRECTOR.

2. TIME LIMIT FOR ACCEPTING OR REJECTING RESIGNATION OF A DIRECTOR AFTER WHICH THE RESIGNATION CAN NOT BE ENFORCED.

Ram Avtar Singh

Ram Avtar Singh (Expert)
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06 February 2009 Director can himself file details of his resignation to ROC [Clause 149(1) of Companies Bill, 2008] It is now made clear that company has no discretion in accepting resignation of director. It becomes effective when his resignation is received or date specified in his resignation letter, whichever is later [provision useful when there are disputes among directors].