company law explanation/clarification
This query is : Resolved
12 December 2010
I have read section 255 & 256 and there was no mention that following directors shall not be included in calculting total number of directors.
a.alternate director
b.nominee of LIC
c. director appointed by CG
in one of the porblems based on above in Munish bhandari book. these were excluded in computing the total number of directors.
a.alternate director
b.nominee of LIC
c. director appointed by CG
in one of the porblems based on above in Munish bhandari book. these were excluded in computing the total number of directors.
12 December 2010
It must have been assumed in the problem that the nominee directors are being appointed on a non-rotational basis by virtue of a specife clause to that extent in the Articles of Association of the company.
13 December 2010
Alternate director's are appointed by the Board. But section 255 and 256 is related to directors appointed in general meeting. In view of that, alternate directors are excluded for the purpose of retirement by rotation.
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