cOMPANIES ACT

In my view the concerned Director cannot be prosecuted if has tendered his resignation to Company and ROc and got acknowledgement.

Plz . See Case law:

T.Murari V. State (1976) 46 Com Cases, 613(Mad)

the learned judge said" I am of the view that even in the absence of a provision in respect of resignation under the Act or under the Articles of Association of the company, th resignation tendered by a director or managing director unequivocally in writing will take effect from the time when such resignation is tendered." To the same effec is S.S Lakshmana Pillai V.ROC

However, he is liable for all acts upto the date of resignation

IN Abdul Huq V Katpadi Industries Ltd. AIR 1960 Mad 482, 483, after referring to various books on this subject, RAMASWAMI, J. concluded as follows"The net result of this analysis is that a director , who has submitted his resignation, will be deemed to have resigned from the date of resignation, without prejudice, of course to his liabilities and obligations which had occured up to that date and which he cannot evade by severing his connection with the company"

best regards,

Anup

 I am grateful for the advice and quoting the judgements, which I hope, are still valid and not overturned.