Directors retirement by rotataion

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25 September 2012 Please explain the rule of retirement by rotation rules with example

CA. Sandesh Sudhakar Dhomne

CA. Sandesh Sudhakar Dhomne (Expert)
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25 September 2012 If its a public company then it should have 2/3rd of its director should be directors retire by rotaion. the person who is longest in the office shall retire by rotation
at every AGM at least 1/3rd of 2/3rd should retire.

Ex. if a co. have 18 directors then 12 directors should be rotational directors and out of 12 directors 4 directors (1/3rd of 12) should retire at every AGM.
The company can specify in its AOA that every director will retire by rotation, but it should not specify vice versa.

PVT. company can have all its director permenant

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Guest

Guest (Querist)

25 September 2012 is it mean that, remaining six directors will be permanent?

CA. Sandesh Sudhakar Dhomne

CA. Sandesh Sudhakar Dhomne (Expert)
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25 September 2012 Yes the minimum limit for rotational director is 2/3rd of total director.
Maximum it can be total no. director provided AOA specifies it.

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