Search this Act

Jump directly to a section by number or title.

Section 168

Resignation of director

(1)
A director may resign from his office by giving a notice in writing to the company and the Board shall on receipt of such notice take note of the same and the company shall intimate the Registrar in such manner, within such time and in such form as may be prescribed and shall also place the fact of such resignation in the report of directors laid in the immediately following general meeting by the company:
Proviso

Provided that a director shall also forward director may also forward a copy of his resignation along with detailed reasons for the resignation to the Registrar within thirty days of resignation in such manner as may be prescribed.

(2)
The resignation of a director shall take effect from the date on which the notice is received by the company or the date, if any, specified by the director in the notice, whichever is later:
Proviso

Provided that the director who has resigned shall be liable even after his resignation for the offences which occurred during his tenure.

(3)
Where all the directors of a company resign from their offices, or vacate their offices under section 167, the promoter or, in his absence, the Central Government shall appoint the required number of directors who shall hold office till the directors are appointed by the company in general meeting.
Notes, amendments & references (6)

Refer rule 15 of the Companies (Appointment and Qualification of Directors) Rules,2014.To view the rule, Click Here

shall To be be read as may for IFSC Private and IFSC Public company vide GSR 8(E)and GSR 9(E) dated 04.01.2017.To view the notification Click Here

Substituted vide Companies (Amendment) Act, 2017 dated 03.01.2018 Effective from 07-05-2018

To view commencement notification, Click Here

To view the notification of Companies Amendment Act,2017 Click Here

Refer rule 16 of the Companies (Appointment and Qualification of Directors) Rules,2014.To view the rule, Click Here