Joshi, who had about 15 months more left in service, submitted his resignation hours after submarine INS Sindhuratna had a mishap in which seven sailors were taken seriously ill and two officers were missing.
The Defence Ministry immediately accepted his resignation and ordered that Vice Chief of Naval Staff Vice Admiral R K Dhowan should take over as the Acting Chief till regular Chief is appointed.
"Taking moral responsibility for the accidents and incidents which have taken place during the past few months, the Chief of Naval Staff Admiral D K Joshi today resigned from the post of Navy Chief," Defence Ministry said.