Resignation of Director

Resigning from the position of a director in a private limited company in India involves following a specific process to ensure legal compliance. Here is a step-by-step guide to the resignation process:

1. Review the Articles of Association (AoA) and the director’s appointment letter: Before proceeding with the resignation, carefully review the company’s AoA and the director’s appointment letter. These documents may contain specific provisions regarding the resignation process, notice period, and any other requirements.
2. Determine the notice period: Check the notice period mentioned in the AoA or the director’s appointment letter. Typically, the notice period is 30 days, but it may vary based on the specific terms agreed upon during the director’s appointment.
3. Call for a Board Meeting: As per the Companies Act, 2013, the resignation of a director must be approved by the Board of Directors. Call for a Board Meeting by providing notice to all directors, specifying the date, time, and agenda of the meeting. The notice period for the Board Meeting should comply with the provisions mentioned in the AoA or the Companies Act.
4. Attend the Board Meeting: Attend the scheduled Board Meeting and formally submit your resignation letter to the Board of Directors. The resignation letter should clearly state your intention to resign from the position of director and specify the effective date of resignation. It’s advisable to keep a copy of the resignation letter for your records.
5. Passing of Board Resolution: During the Board Meeting, the Board of Directors should pass a resolution accepting your resignation. The resolution should record the receipt and acceptance of your resignation, along with the effective date of resignation. Ensure that you obtain a copy of the Board Resolution duly signed by the authorized signatories.
6. Intimation to Registrar of Companies (RoC): Within 30 days from the date of resignation, the company is required to intimate the RoC about the director’s resignation. Prepare and file the necessary forms with the RoC, such as Form DIR-12, along with the prescribed fees. These forms will update the RoC’s records and reflect the change in the company’s directorship.
7. Handover of Responsibilities: After the resignation is accepted, work closely with the remaining directors to ensure a smooth transition. Hand over all relevant documents, assets, and responsibilities to the designated person within the company. Provide necessary support and guidance during the handover period to ensure continuity.

Remember that the process may vary based on the specific circumstances and the company’s internal procedures. It’s always recommended to consult with a legal professional or a company secretary to ensure compliance with the Companies Act and other applicable laws and regulations in India.
DOCUMENTS REQUIRED

• ID proof -Passport/ Driving License/ Voter ID card/ AADHAAR Card
• PAN card of the applicant
• Email ID and Mobile Number
• Resign Letter

MINIMUM REQUIREMENT

• 1. Public Company Minimum 3 directors all time
• 2. Private Company Minium 2 Diretors all time
• 3. One Person Company Minimum one Director all time