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Resignation of Director

The resignation of a director involves the voluntary decision of a director to step down from their position within the company. The director must submit a resignation letter to the board of directors, detailing their intent to resign. The company is required to accept the resignation, pass a board resolution, and file Form DIR-12 with the Ministry of Corporate Affairs (MCA) to update the official records. The resignation must be documented properly, ensuring that the director’s departure is formally acknowledged. The company must also ensure that it continues to meet its corporate governance requirements, including maintaining the necessary number of directors as required by law. Properly handling the resignation process helps to maintain legal compliance and transparency in the company’s management.

 
     
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