Legal Question in Business Law in India

Resignation from the Director Post

I was director of a startup company. As a part of the deal i hold some shares of this company. Now i want to resign from the post of director and keep my shares which i hold with the company may be just as an investor. There are no set guidelines on the notice period to be given {although i had informed them verbally a month back}. The MD of the company is now cribbing to give Relieving Letter and i have got an offer from another company...Please guide


Asked on 3/31/08, 5:24 am

3 Answers from Attorneys
Homi Maratha N.N. Maratha & Co.-Advocates

Re: Resignation from the Director Post

You may send your resignation letter via registered post.

Make it a strategic way keeping every evidence with you as the employer can make allegations regarding the company's confidential agreement or harass you to issue a relieving letter.

In case of need please contact personally.

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Answered on 4/01/08, 12:36 am
Deepak kumar

Re: Resignation from the Director Post

Legally, you can send your resignation letter by registsred post. However there are certain malacious steps, which can be taken by employer from making allegations of theft to hacking, tampering source code, retaining company confidential information etc.

That is the reason, you should make proper handover. However though no such legal requirement.

You have failed to inform, whether the relieving letter is required by new company or old one is asking you to take from them. For further clarification, [email protected]

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Answered on 3/31/08, 5:54 am
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: Resignation from the Director Post

Verbal communication has no value in eyes of law until and unless it can be proved.So send letter of resignation by RPAD. If possible go personally and take acknowledgement by handing the letter.

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Answered on 4/01/08, 11:31 am


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