Draft Resignation Letter of Independent Director of Listed Entity

An independent director is a non-executive director of a company. Under the Companies Act, 2013, certain categories of company are required to appoint independent directors mandatorily.

An independent director does not have any pecuniary relationship with the company, its promoters, directors or associate companies.

The resignation letter format of an independent director is almost the same in both listed and unlisted companies, except a couple of minor changes.

Here is an example of such a resignation letter from an independent director.

SAMPLE

Date: ................

From

(Name of the Director)

DIN: ........................

(Address)

Mob.: ...................

To

The Board of Directors

........................ Limited

CIN: .............................

Regd. Ofc: ....................

.......................................

Tel.: ...............................

Sub.:  Resignation from the position of Independent Director

Dear Sirs/Madams,

I hereby tender my resignation from the office of Independent Director of .................... Limited with effect from (Date). Further, I declare that I am resigning because of my personal reasons and preoccupations only, and there is no other reason for my resignation.

I wish to express my gratitude towards the Board of the company for giving me an opportunity to serve on the Board; it was my privilege indeed. I also thank the senior management and other staff of the company for extending their support during my tenure.

I am glad to express that my association with the company as an Independent Director was rewarding and fruitful.

I further confirm that,

(1) I do not have any claim whatsoever against .............. Limited whether for loss of office, accrued remuneration or otherwise: and

(2) ................... Limited has no claims whatsoever against me.

I request the Board to kindly accept my resignation and relieve me from my position in the company. Please make arrangements to file necessary forms with the concerned Registrar of Company and intimations to the stock exchanges. I would appreciate to have received copies of the said forms & intimations.

I wish the company all the success in the future.

Thanking you,

Yours faithfully,

  (signature)

(Name of the Director)

DIN: ...................