Recall of Director s resignation

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..... Recall of Director s resignation
Query (Issue) Started By: - Murari Agrawal Dated:- 7-1-2016 Last Reply Date:- 17-1-2016 Corporate Laws / SEBI / LLP
Got 4 Replies
Companies Law
Dear Experts, Whether once a director who submits his resignation may withdraw the same before the resignation is accepted by the Board of Directors. Reply By MARIAPPAN GOVINDARAJAN: The Reply: In my view if .....

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..... a Director gives his resignation in writing, the resignation date will be effective from the date of resignation. The Company is not require to accept the resignation of the Director. The Board will take note of the resignation of the Director. The resigned Director may withdraw his resignation before the Board takes note of his resignation. Reply By Mahir S: The Reply: Agrawal ji. The resigna .....

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..... tion becomes effective on the date it is received by the Company or the date mentioned in the resignation letter, whichever is later. Hence, it can be safely be concluded that since the resignation becomes effective immediately, hence the director concerned cannot withdraw his resignation, without the consent of the Company. Reply By Mahir S: The Reply: Further, Director's position is of u .....

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..... tmost importance and carries lots of responsibilities. Also most of the company's decision are directly/indirectly related to decisions taken by Director/s. At times, the purchase/sales and company future is also effected due to sudden Resignation decision of a Director. Hence, director should himself take utmost care before taking such decisions pertaining to resignation. Reply By Mahir S: .....

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..... The Reply: If a Director himself is not able to decide about his resignation, how can he be trusted to take positive decisions pertaining to Company.
Discussion Forum - Knowledge Sharing .....

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