Section 416: Resignation of Members
This section is for outlining the process and terms of resignation for Members of a company.
The section, clause by clause
What the section says
In plain terms
The President, the Chairperson or any Member may, by notice in writing under his hand addressed to the Central Government, resign from his office:
provisoProvided 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.
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
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Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.