What is the right and laibility of a Director after his resignation


A company had a shareholding of 50.01% and 49.99%, with an equal board representation with two directors each, in which I was the Director nominated by the shareholders having 50.01%. Further, the same shareholders sold their share and I also resigned at the same time. Now, I have come to know that the other shareholders, who had 49.99% shareholding in the company, have alleged some allegations on me, basis a report, which was never given to me to defend/clarify myself. So, Can I file a defamatory petition against other shareholders along with the auditors?

Answers (4)


320 votes

Dear Sir,
Before giving resignation, you must take NOC and/or clearance from the company/co-director.
Now counter attack will be the best defense. Find the loop holes.
Without knowing the nature of your case in detail, it would be difficult to give any legal advice.


Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

340 votes

Sir
your liability in a company continues as a director till the date you have tender your regisnation. You are only liable till the date mentioned on your regisnation letter or the date on which you have send the mail containing your resignation.

Thank you
Adv Tarundeep Singh

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302 votes

I have read and understood your query and shall be able to address your concern as I specialise in corporate laws. However to address you further I need to be apprised of certain more information so as to guide you well.

166 votes

Before thinking on the lines of filing a defamation suit in against the person concerned you need to wait for the report which is to come against you. Prior to that you can ask for the reports and can further ask for representation and equal participation over such allegations to know the basis of such allegations. If they refuse to let you represent your matter then you can come up with a case in against them.

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