Companies Act Section 416 — Resignation of Members

CHAPTER XXVII NATIONAL COMPANY LAW TRIBUNAL AND APPELLATE TRIBUNAL

Commercial / Corporate

Summary

The President, the Chairperson, or any Member can resign from their position by sending a written notice, signed by them, to the Central Government.

However, the resignation does not take effect immediately. The person must continue in office until the earliest of three events: three months have passed since the Central Government received the notice, a properly appointed successor takes over the office, or the person's original term of office expires.

Official Text

The President, the Chairperson or any Member may, by notice in writing under his hand addressed to the Central Government, resign from his office:

Provided that the President, the Chairperson, or the Member shall continue to hold office until the expiry of three months from the date of receipt of such notice by the Central Government or until a person duly appointed as his successor enters upon his office or until the expiry of his term of office, whichever is earliest.