The Director intending to resign shall send notice in writing to the Company. The resignation of a director shall take effect from:
1. The date on which the Notice Is Received by the company or
2. The Date, If Any, Specified by The Director in the notice, whichever is later.
The director who has resigned shall be liable even after his resignation for the offences which occurred during his tenure. A director shall also forward a Copy of His Resignation Along With Detailed Reasons for the resignation to the Registrar within 30 (Thirty) days of resignation through filing of Form DIR.11 under his Digital Signature. It means it will be mandatory for all directors to have Digital Signature under Companies Act-2013.
IF a director has “duly” resigned under acknowledgement from the company and the local ROC, THEN there is no liability applicable ariaising after the date of resignation. The onus of responsibility is on the resigned director, who has to clear his lawful obligations before resigning, that is withdrawal of signed cheques and honouring of other third party liabilities in whatever form and handover of all assets (Car, House, Phone or whatever) of the company in his possession. The Company too should accept resignation of such director, after absolving the director of all his liabilities (including pending cheques).
So check your status in the company at the time of filing of suit. The bank has every opportunity to approach the DRT for realising the debt from the company. If you are not a director at the time of the taking loan then you have no liability. If your name is reflected in OA then file your counter through a lawyer.