Additional Secretary of the Assembly S R Zokhuma told PTI that Speaker Hiphei, who is in Delhi, authorised Lalrinawma to take decision on the resignation following which he accepted it.
The state Assembly secretariat also informed the Election Commission of India of the resignation so that arrangements could be made for the by-election to Aizawl North III Assembly constituency vacated by Lal Thanzara.
Lal Thanzara, brother of Chief Minister Lal Thanhawla, had put in his papers to him as member of the council of minister and Hiphei as member of the state legislature on Tuesday.
He was also accused of holding 4.76 lakh shares (over 21 per cent) in Sunshine Overseas, a construction company which bagged road construction contracts worth crores of rupees under the state public works department.
The state PWD portfolio is held by the chief minister and Lal Thanzara was assisting his elder brother.