Directors
This query is : Resolved
31 March 2009
Hi !
Can anyone tell me whether all the Directors of a Listed company can be appointed permanently, without being liable to retire by rotation in an AGM and remain uncovered from the disqualification under Section 274(1)(g).Special reference to a sick company reffered to BIFR.
Can anyone tell me whether all the Directors of a Listed company can be appointed permanently, without being liable to retire by rotation in an AGM and remain uncovered from the disqualification under Section 274(1)(g).Special reference to a sick company reffered to BIFR.
31 March 2009
No. As per companies Act you cannot appoint a Permanent director for a listed company.
You have to comply with the section 274 (1) (g) every year.
No. As per companies Act you cannot appoint a Permanent director for a listed company.
You have to comply with the section 274 (1) (g) every year.
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31 March 2009
i agree with the expert
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31 March 2009
Thanks for your prompt reply!
But what if the articles did not provide for every director to retire by rotation then can 1/3rd of total directors can be appointed as permanent deirectors.
But what if the articles did not provide for every director to retire by rotation then can 1/3rd of total directors can be appointed as permanent deirectors.
01 April 2009
The Articles of a company cannot override the companies Act. Your articles should within the permisable activities under law. If anything is violating the act, you have to amend your articles of association. You can refer Table A which is the model for Articles of Association of a company. All the directors are liable to retire by rotation.
The Articles of a company cannot override the companies Act. Your articles should within the permisable activities under law. If anything is violating the act, you have to amend your articles of association. You can refer Table A which is the model for Articles of Association of a company. All the directors are liable to retire by rotation.
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