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Director in company want to resign other directors not letting me
17-Aug-2023 (In Labour & Service Law)
Hi We are 3 directors formed a private limited company in oct 2015. My shareholding was 25 %. company is going slow and till this date we have not withdrawn any money as salary from company. There is a off the the record investemnt from one of the guy with Rs 800000 . Now i want to leave the company and other partner wanted to continue. They are not accepting my resignation from director ship by saying that please pay your part of money to the person. i have to join another bank as job but before that i have to clear all this thing as per bank policy. Plesase suggest me?
In a private limited company formal acceptance of resignation of an ordinary director is not mandatory. So in your case a director can resign by simply tendering his resignation letter to the other ill-behaved director without his formal acceptance. Resigning director must ensure filing of form-32 regarding his resignation. After resignation immunity will be with the resigning director from the date of resignation regarding responsibility of the act of other director or company.
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Adv. Ishan Rohan
Ranchi | 200+ Answers
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