Section 168:
Resignation of director.
(1) A director may resign from his office by giving a notice in
writing to the company and the Board shall on receipt of such notice take note of the same and the
company shall intimate the Registrar in such manner, within such time and in such form as may be
prescribed and shall also place the fact of such resignation in the report of directors laid in the
immediately following general meeting by the company:
Provided that a 1[director may also forward] a copy of his resignation along with detailed reasons for
the resignation to the Registrar within thirty days of resignation in such manner as may be prescribed.
(2) The resignation of a director shall take effect from the date on which the notice is received by the
company or the date, if any, specified by the director in the notice, whichever is later:
Provided that the director who has resigned shall be liable even after his resignation for the offences
which occurred during his tenure.
(3) Where all the directors of a company resign from their offices, or vacate their offices under
section 167, the promoter or, in his absence, the Central Government shall appoint the required number of
directors who shall hold office till the directors are appointed by the company in general meeting.
Notes:
1. Subs. by s. 55, ibid., for "director shall also forward" (w.e.f. 7-5-2018).