1966 (7) TMI 75

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....ing copies of balance-sheets and profit and lose account of the company as required by Sub-sections (1) and (2) of Section 220 of the Companies Act. The due date for filing these documents was the 25th May, 1962; but they were not filed even a long time thereafter in spite of reminders. Accordingly, a complaint was made by the Registrar of the Companies, on the basis of which the present prosecution was started against the respondent. 3. The defence put forward by the respondent was that he was not a Director of the company at the relevant time, inasmuch as he had resigned his office as such on the 3rd February, 1962. The resignation was conveyed to the company by means of a post card, Exhibit B. 4. The learned trying magistrate refer....

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....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 gave the notice of resignation by the post card, Exhibit B, dated the 3rd February, 1962. 6. On behalf of the State the argument put forward was that the resignation of the respondent came to be accepted by the Board of Directors with effect from the 9th March, 1963; and in this view, the respondent must be deemed to be liable for the default in the filing of the balance-sheet and other connected papers, which took place on the 25th May, 1962. ....