Resignation form a Pvt Ltd Company
santosh
(Querist) 22 October 2009
This query is : Resolved
Dear Friends
I need help where in i am a director of a PVT.LTD Company and as I have seen that the other directors are not working properly or are not intrested in this company I would want to resign and when I expressed this to the other directors they told me I can resign if I pay up the money that they have a put into the company and then they still want to run the company by them self but they want me to pay up for all the current balance that the company has.
As a director am i liable for payments the company has to receive , i have told them that I do not want my paid up capital of Rs.2.5 Lacs and the salary pending of another Rs.2.00 Lacs but they are saying that the company has a negiative of Rs.40.00 lacs so I need to pay before I leave but in that Rs.40.00 that the company is negitive the payments that are yet to be received is around Rs.35.00 Lacs so the total negitive is only Rs.5.00 lacs and I have told them I do not need any money from them but just want to get out of this relation but they are saying that I can only resign if I pay Rs.40.00 Lacs or else I will be liable for all the losses is this true kindly help me.
Regards
Santosh
Raj Kumar Makkad
(Expert) 22 October 2009
You need not listen them. You can resign at your free will. You are not liable to bear full losses of the company. Full and final settlement can be made through arbitrator or through court. You cannot be forced to remain thete when they are not in mood to either work or cooperate.
santosh
(Querist) 22 October 2009
Thank Mr.Raj Kumar and Mr. Avinash for the kind advice do I need first file form 32 and send my resignation simultaniously or should a gap be give between the both .
Thank you once again.
Regards
Santosh
Arul Kumar
(Expert) 23 October 2009
Dear Santosh,
First send your resignation letter. Subsequently the comply the prodedure of sending form 32.
