Who is the director?
A director of a Company is a person who is appointed to a limited Company that looks after the day-to-day business activities and finances of the Company. He is selected from a group of managers who leads or supervises a particular area of a Company. The comPANies which use this term of ‘director’, in general, have many directors who hold different responsibilities and are spread throughout different business roles.
He ensures all the statutory filing such that the obligations are met. A director has a huge responsibility as his decisions would help in deciding the benefit of the Company as a whole. Thus it is important for a director to be honest and act lawfully and wisely.
About the resignation of the Foreign/Non-Resident Directors
According to the comPANies Act of 2013, it has been mentioned that a foreign person can become a director of a Company. A foreigner or an NRI is capable of being an executive or a non-executive/independent director of public or private Indian comPANies.
A director can resign from his office by giving official notice to the organization under Section 168(1) of ComPANies act 2013. The Company has to intimate the Registrar within 30 days of the resignation in accordance with the form as prescribed. The same fact of the resignation has to be present in the Board of Directors. Moreover, this report of the same is to be laid at the general meeting of the Company in the next immediate meeting.
The resignation of the director is counted to be effective from the date on which the notice has been received by the Company. Or else, it can also be effective from the date specified by the director in the notice, whichever is later
