Resignation of Director in public limited company
Section 168 of the Companies Act, 2013 (“Act”) governs the provision regarding the resignation of director.
Step by Step guides to legal provisions of Resignation of Director:
- Director who intends to retire shall give a notice in writing to the Company and shall file form DIR-11 with 30 days from the date of resignation along with reasons.
- Board of Director of the company shall take note of the same and file a form DIR-12 within 30 days from the date of receipt of notice from the director.
- Update the statutory register of Director
- Company shall also mention this fact in the Board Report as well.
- Make sure after resignation of director, minimum required number of directors shall not fall below the statutory limit which is 2 or 3 in case of private limited or public limited company