This document clarifies the effective date of a director's resignation and outlines the necessary compliance requirements and continuing liabilities.
Resignation of Director under Companies Act: FAQs
The document provides clarity on the resignation process for directors under the Companies Act. It states that a director's resignation becomes effective upon receipt by the company or at a specified future date, without requiring Board approval.
It also details the ongoing compliance obligations and liabilities that a director may face even after resignation, ensuring understanding of the ramifications involved in the resignation process.
Legal practitioners should utilize this resource to guide their clients accurately during the resignation process, ensuring that all legal requirements are met and that clients are aware of potential future liabilities.
