casual vacancy
This query is : Open
03 February 2017
As per sec.161(4) BOD can fill the casual vacancy in the office of the director appointed by the co. in GM before the expiry of his term of office. However subsequent vacancy happen again in such office cannot be filled by BOD.
But as per (Company news & notes 01.07.1963 issue) it states that, for interest of smooth working of a co., if the casual vacancy is in an office which was filled by election at a GM, then the board may fill the casual vacancy as many times as necessary, I.e. if the original appointment was made by the co. in the GM any subsequent casual vacancy to the office of the director can be filled by the board.
which one of the above ans I should write in the exam?
04 February 2017
According to section 161(4), in case of public Company if the office of Director appointed by the Company in General meeting is vaccated before the expiry of his period , then resulting vaccancy shall be filed by Board of Directors by passing Board resolution at the Board Meeting and such a person shall hold the office upto the date on which original Director has hold the office
But if the additional Director vaccate the office the resulting vaccancy . shall not be filed by the Board and it is not a case of casual vaccancy and if still there is the casual vaccancy of such person then further casual vaccancy shall not be appointed.
But if the additional Director vaccate the office the resulting vaccancy . shall not be filed by the Board and it is not a case of casual vaccancy and if still there is the casual vaccancy of such person then further casual vaccancy shall not be appointed.
04 February 2017
OK..so company news & notes 01.07.1963 has no use in exam!!!
04 February 2017
No, go as per the section 161(4) as stated under companies act 2013
04 February 2017
OK thanks a lot jatin Ji.
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