The process of intimation to stock exchange for resignation of company secretary entails promptly informing the stock exchanges of a company secretary’s resignation. This is necessary to comply with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This article will provide us an idea of the letter format to inform the Intimation to Stock Exchange for Resignation of CS.
|
Table of Content |
Quick Look
The stock exchanges must be informed of a company secretary’s resignation in a timely way. SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 mandate this. The stock exchanges where the company is listed should receive a stock exchange intimation letter.
An authorized signatory should sign the company’s letterhead. After the Company Directors designate a new Company Secretary and Compliance Officer, the stock exchanges should be informed. To avoid legal action or fines, company secretaries must comply with SEBI laws and notify the stock exchanges of their resignations.
Steps to be taken by company secretary at the time of resignation
To intimate the stock exchange for the resignation of a company secretary, the following steps can be taken:
- Registrar of Companies (ROC) and Stock Exchanges need to be informed in your personal capacity.
- Prepare a stock exchange intimation letter that includes the details such as Name of the company secretary who is resigning, date of resignation, reason for resignation, effective date of resignation and any other relevant details if needed.
- The letter needs to be submitted to the relevant stock exchanges where the company is listed
- The company secretary should continue to discharge their duties until the effective date of resignation.
Intimation letter requirements for various stock exchanges may vary, so it is advised to verify with the relevant exchanges for details.
Format for Intimation to Stock Exchange for Resignation of Company Secretary
Letter Head
Date of Board Meeting, Year
Ref:
To,
The Listing Department Designated Stock Exchange Name,
Address of Designated Stock Exchange,
Scrip Code:
Sub: Intimation for Resignation of Company Secretary & Compliance Officer
Dear Sir/Madam,
With reference to the above captioned subject and in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 this is to inform you that Name of Company Secretary (CS) _ has resigned from the post of Company Secretary and Compliance Officer of the Company w.e.f _ Date of passing BM.
Yours faithfully
Signature
Name of Company
Name of Authorised Director
Director) DIN
Takeaway
The consequences for a company secretary if they do not follow the legal requirements for resignation from a listed company can be severe. Therefore, it is important for companies and their secretaries to comply with SEBI regulations and Companies Act, 2013 requirements and inform the stock exchanges about the resignation of a company secretary in a timely manner to avoid any legal action or fines.
