Section 168 — Resignation of director

(1) A director may resign from his office by giving a notice in writing
to the company and the Board shall on receipt of such notice take note of the same and the company shall
intimate the Registrar in such manner, within such time and in such form as may be prescribed and shall
also place the fact of such resignation in the report of directors laid in the immediately following gen eral
meeting by the company:
Provided that a 3[director may also forward] a copy of his resignation along with detailed reasons for
the resignation to the Registrar within thirty days of resignation in such manner as may be prescribed.
(2) The resignation of a director shall take effect from the date on which the notice is received by the
company or the date, if any, specified by the director in the notice, whichever is later:
Provided that the director who has resigned shall be liable even after his resign ation for the offences
which occurred during his tenure.
(3) Where all the directors of a company resign from their offices, or vacate their offices under section