If a director resigns from a company and sends his letter of resignation both to the company and ROC and gets acknowledgement, can he be prosecuted under s.138 if the cheque bounces and offence takes place after the date of resignation ?
Anil Agrawal (Retired) 08 November 2009
If a director resigns from a company and sends his letter of resignation both to the company and ROC and gets acknowledgement, can he be prosecuted under s.138 if the cheque bounces and offence takes place after the date of resignation ?
Sanjeev Kuchhal (Publishers) 08 November 2009
In my opinion it will depend on the fact that when was the cheque issued and whether he was incharge and responsible for the administration of the company on the date the cheques were issued.
KUMAR JAGADEESAN (COMPANY SECRETARY & COMPLIANCE OFFICER) 08 November 2009
Dear Mr.Agrawal
Resignation of directorship under the companies Act has to follow the defined procedures and it is the company that has to notify the resignation to ROC by filing Form 32. However the fact that the director has resigned need not be proved by ROC records alone. It would help the case in addition to other evidence. More particularly if the control of the management and its day to affairs had not been with the concerned director and the cheque has been signed by some other director he can always pray for deletion of his name from the respondents in a case under section 138.
J.KUMAR
Hyderabad
CS Pooja (Company Secretary) 09 November 2009
Mr. Kumar has replied very aptly.
Pradeep Dhruva (Company Secretary) 09 November 2009
The resignation of Director is complete only after Form no.32 is filed with ROC by the Company. Till such form is not filed and if such cheque is issue d by the company , then the Director can take shelter that he was not involved in day to day activites of the Company.
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