Legal Question in Business Law in India

Resignation as a Director

I am a director in a startup company. Due to ethical reasons I would like to resign.

I have already e-mailed the MD and majority of other directors (their company e-mail address) regarding my decision. I have electronically handed over all documents related to company IP which I was privvy to.

I also wish to surrender all my shares (free-of-charge) back to the company and would not like to have any further stake in the business. (again for ethical reasons)

Kindly advise me on necessary steps to be taken to formally close all ties with the company and prevent any sort of future legal/financial hassles if the company board land in trouble due their policies, which I have opposed for long.

I also feel that the rest of the directors will not agree to let me go or are apathetic to this request, since I havent had any response from anyone for quite some time.

I just want to take sufficient measures to protect myself in case of any backlash.

Any help would be deeply appreciated.

Regards


Asked on 5/17/08, 6:19 am

4 Answers from Attorneys
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: Resignation as a Director

Your acceptance of resignation by MD is sufficient to prevent you from future legal/financial hassles.As a precaution also sent a copy(hard copy)of the letter of resignation by RPAD.

Read more
Answered on 5/18/08, 9:06 am
Deepak kumar

Re: Resignation as a Director

Dear Querist,

Do you have digital signatures and DIN, in that case, you can ensure Filing of Form 32, plus make all communication by regsitered AD, including that of surrendering free of charge shares once again. The letter has to say repeatedly, that you have returned all company properties and iot has been ensured to you that relieveing letter is in the process of dispatch. [email protected], 9910472298

Read more
Answered on 5/18/08, 9:47 am
Homi Maratha N.N. Maratha & Co.-Advocates

Re: Resignation as a Director

Your resignation is enough to prevent you from legal and monetary complications. But do all the communications by Regd. P.O.

Read more
Answered on 5/23/08, 7:40 am
Amit Shukla AS and Associates Legal Services

Re: Resignation as a Director

Contact personally for advise.

Read more
Answered on 5/18/08, 12:55 am


Related Questions & Answers

More Business Law questions and answers in India