The President, the Chairperson or any Member may, by notice in writing under his hand addressed to the Central Government, resign from his office:
Provided 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.
Legal Commentary & Landmark Judgments: Section 416
Section 416 regulates the resignation of the President, Chairperson, and Members of the NCLT and NCLAT, specifying the requirement of written notice to the Central Government and the transitional period of continued service.
When examining judgments signed by a member who has submitted a resignation letter, check whether the three-month transition window under Section 416 has lapsed. The member retains full adjudicatory authority to hear matters, sign orders, and deliver judgments until the formal effective date or notification of acceptance.