SECTION-416 (Resignation of Members) under CHAPTER-XXVII (National Company Law Tribunal and Appellate Tribunal) of the Companies Act, 2013
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.
Extra Notes for Readers
(1) The Companies Act, 2013 received the assent of the President on the 29th August, 2013 (Published in the Gazette of India, Extraordinary, Part II - Section 1 by Ministry of Law and Justice, Legislative Department on 30th August, 2013)
(2) Section 416 of the Companies Act, 2013 was notified by MCA Notification S.O. 1934(E) dated 1st June 2016 (w.e.f. 1st June 2016)
(3) Also refer:
- National Company Law Tribunal Rules, 2016 (notified on 21st July 2016)
- National Company Law Appellate Tribunal Rules, 2016 (notified on 21st July 2016)
This page was last updated on 2nd June, 2017.
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