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Directors retiring by rotation

This query is : Resolved 
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(Querist)
25 August 2011 Hello everyone,

Can anyone please elaborate me S.256(1) of The Companies Act, 1956 which says that one-third directors shall retire and if, the number (i.e. 1/3rd) is not three or multiple of three, then "the number nearest to one-third" shall be considered.

Thanks in advance :)
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CA. Anoop Gadia

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CA. Anoop Gadia (Expert)
25 August 2011 total 5 director * 1/3 = 1.67 so it is = 2
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Prathamesh Joglekar

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Prathamesh Joglekar (Querist)
15 September 2011 Thank you for answering my query sir :)
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