Exit from board
I worked in a small startup and due to non-payment of salary for 5 months I stopped going (I worked only for six months). I wrote the reasons of my decisions to the CEO and the amount of dues pending. I said that I cannot come to office till the dues are cleared. He kept saying that he would clear the dues. I just left it there as I was not interested to take legal course of action. That was in May 2016. Now after 2 years, the CEO contacted me saying that my name needs to be removed from the directors / signatory as banks are asking for KYC of all directors and is requesting to send a resignation letter. The CEO has a bad reputation of holding persons responsible for the loss incurred by the company and asks them to pay the amount for those who have resigned earlier. Now when I raised the issue about the dues, he says that he can talk face to face but first asks me to send the resignation letter. My question is, should I just keep quiet or is there any legal problems that I might face? If I send resignation letter and if he sends back a letter saying that there are dues, what should I do? I am not interested in legal course of action. Is banks asking KYC because the CEO is applying for loans?