This is referred to as the “director resignation procedure.” In this procedure, the director would submit the respective resignation to the concerned Board. In the given process, some of the essential steps for removing his or her name from the directors’ register are:
- The company will set up a specialized Board of Meeting while providing the 7 days of clear notice.
- Upon Board meeting, the board members will be discussing and deciding whether or not they should accept the resignation.
- Once the board has accepted the director’s resignation, it will go forward with passing a board resolution. This would accept the director’s resignation.
- Once the resignation has been accepted, a specialized form namely “DIR-11” is required to be filled out by the current director. Additionally, the form is also expected to feature the signatures of the Board Resolution along with the proof of the resignation letter being submitted. It should also contain the copy of the resignation letter.
Upon this, the name of the current director would be removed from the company’s register.