Resign from md
Querist :
Anonymous
(Querist) 12 October 2011
This query is : Resolved
I am the Managing Director of a private limited company. Besides this there is one another director. I want to resign from the directorship the other director is not receiving my resignation letter. I was appointed by the board. I am not a promoter director. Neither I am a subscriber to the Memorandum & Articles of Association. What should I do to resign?
Sankaranarayanan
(Expert) 12 October 2011
just simple you have to file your resignation letter before the board and explain your reason.
Querist :
Anonymous
(Querist) 12 October 2011
Sir The board constitute only two members me & the other director the other director is refusing to accept my resignation i can not accept my own resignation
Sankaranarayanan
(Expert) 12 October 2011
then you send by Reg post to your reg.office
Querist :
Anonymous
(Querist) 12 October 2011
But again in regd. office only i sit.
prabhakar singh
(Expert) 12 October 2011
In the situation stated you need to send the RESIGNATION ADDRESSED TO YOUR COUNTER PART BY A REGISTERED LETTER AS WELL AS ON HIS EMAIL ADDRESS AND IT SHALL GET SERVED ON HIM,TILL THEN NO PROBLEM.
BUT WHAT IF HE DOES NOT ACCEPT IT.??????
prabhakar singh
(Expert) 12 October 2011
For what and with whom my brother M.Sheik Mohammed Ali have agreed is being still probed by me,the sooner i come to know the sooner i shall reveal.
Advocate. Arunagiri
(Expert) 12 October 2011
You can send a letter to the Registrar of Companies, with whom the company is registered, that you have resigned from the company.
Shailesh Kr. Shah
(Expert) 12 October 2011
Do you know what is the obligation of Managing Director under the companies act,1956?
"managing director" means a director who, by virtue of an agreement with the company or of a resolution passed by the company in general meeting or by its Board of directors, or by virtue of its memorandum or articles of association, is entrusted with any powers of management which would not otherwise be exercisable by him, and includes a director occupying the position of managing director, by whatever name called;
Shailesh Kr. Shah
(Expert) 12 October 2011
->The capacity as managing Director cannot be terminated by merely sending up resignations. It becomes effective only when the company accepts the resignation and relieves him from his duties.
->Private Company shall have at least two directors u/s 252.
->are your appointment u/s 269 ?
Raj Kumar Makkad
(Expert) 12 October 2011
Wah Shailesh Wah! You have changed the one-sided wind. I have similar views as of you Shailesh. The appointment and resignation of MD is subject to Companies Act hence there is no merit in just sending the resignation and accepting or rejecting by other director. Resignation is subject to approval of AGM. Such director/managing director can insist to call AGM as per MOA wherein resignation may be decided.
