There are two directors for a company, one of the director submits his resignation to RoC unilaterally.
Because a company needs atleast two directors to operate the said company is now defunct.
The company has certain assets, IP rights on products and brands, and a unsecured loan.
In such case, what happens to these assets, products and loan of the company?
dear here the question u posted seems to be strange as no director of the company file his resignation unilaterly i.e. through himself he cannot file the form 32 as for filing the form there is requirement to sign the document by the current director of the company. and if so happen that he filed the form 32 with his own signatures, the form cannot be approved from the ROC end. and if such happened that is againest the law and the professional who has also given his certification has gone against the laws. so before resigning by the existing direcot there is need to appoint the other director first and the resignation is required to be accepted in the board meeting.
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