9911796707
TMI Blog1966 (7) TMI 75X X X X Extracts X X X X X X X X Extracts X X X X ..... offence alleged to have been committed by him under Section 220(3) of the Companies Act, 1956. 2. The prosecution case is that the respondent was one of the Directors of Bihar Cable and Wire Industries Ltd. Bihar and that he had been in default in the matter of filing copies of balance-sheets and profit and lose account of the company as required by Sub-sections (1) and (2) of Section 220 of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -- 96 (1) The office of a Director shall ipso facto be vacated if :-- * * * * * (1) by notice in writing to the company he resigns his office * * * * * (2) Notwithstanding any matter or thing in Sub-clauses (d), (e) and (j) of the Clause (1), the dis-qualification referred to in these sub-clauses shall not take effect:-- (a) for thirty days from the date of adjudication, senten ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 20(3) of the Companies Act. 5. It will appear from the 96th clause of the articles of association extracted above that the office of a Director is vacated ipso facto by notice in writing to the company saying that the Director has resigned his office in other words, upon the plain terms of the articles of association, the respondent vacated his office as a Director of the company as soon as he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5th October, 1962, and the 9th March, 1963. On behalf of the respondent it was urged that it was not to refer to these documents at this stage since they were no produced at the trial. In my opinion, there is force in this contention. It appears that in a connected case the prosecution had made an attempt to bring on record these papers with a view to showing that despite his letter of resigna ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s not dependent upon the acceptance of the resignation. It takes effect ipso facto. In other words, the Director ceases to hold the office ipso facto upon giving the notice in writing to the company that he resigns his office. Therefore, even assuming for the sake of argument that the respondent had attended the meetings held after he had served the notice, Exhibit B, upon the company, that would ..... X X X X Extracts X X X X X X X X Extracts X X X X
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