BALAJI.K (asm) 19 March 2010

release deed for out going directors

Dear All,

I am being as a Director in a Private limited company from 2003 and not involved in day to day activities, but having combined cheque power with Managing director. I had signed in the Agm meeting documents till 2006 march, the company has been closed on may 2007

After that the managing director of the company had created forgery accounts, loans, and shown losses to equal the loans and filled the same in ROC. without our knowledge and approval

for the last three years they did not call us for AGM meeting and filled allegated accounts

Now i had decided to releave from the company and ready to resign the director ship , i need a suiatable and strong release deed or MOU which will not affect or bind me in future for the past mistake done by the managing director in our period

Thanks

Waiting for the reply and guidence at earliest

Balaji.K

Email:- indbalaji45@gmail.com

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1 Replies

D.V.RamaKrishna (Advocate) 19 March 2010

Balaji.K

For resigning as a director from a private limited company, you need to send your resignation letter to the board of directors of the company and also intimate the same to ROC in appropriate form. Till the date on which ur resignation is noted in the ROC, you are deemed to be director of the company and you are responsible for any acts of the company, unless you are able to prove that the deeds were done by the other members of the company without your knowledge or approval.