08 December 2014
Pursuant to the provisions of Section 167 (1) (b) a Director will vacate office if he does not attend atleast one board meeting held during a period of twelve months.
Clarification sought for -
1) What does period of twelve months means- calender year or financial year.
2) As the above Section had come in force w.e.f 1st April 2014 so does a Director is required to attend the Board meeting between 1st April 2014 to 31st December 2014.
08 December 2014
1. According to my view its Financial Year
2. The said section is applicable from 1st April 2014, it means that a director absent himself from the entire board meeting held during a period of twelve months with or without obtaining leave of absence, his office as director shall vacate. i.e from 01/4/2014 to 31/03/2015
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