Hi all,
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 October 2013
can anybody please give an appropriate explanation of section 255 and 256 i.e appointment of directors and proportion of those who are to retire by by rotation and ascertainment of directors retiring by rotation and filling of vacancies
CA Vijeta Verma
(Expert)
01 November 2013
see sec 255,256 applies on a public co only.
Rotational directors are those who are liable to retire by rotation at AGM.though all directors can be rotational but minimum 2/3rd directors has to be rotational.A rotational director can be a MD/WTD of a company but in that case also he should be retired at every AGM & can be reappointed.
now out of these rotational directors sec 256 states that atleast 1/3rd rotational director must retire at every AGM.
Sec257 requires that to fill the vacany of rotational directors who retire by virtue of sec 256 either same directors can be reappointed or some other person can be appointed in AGM
Rotational directors are those who are liable to retire by rotation at AGM.though all directors can be rotational but minimum 2/3rd directors has to be rotational.A rotational director can be a MD/WTD of a company but in that case also he should be retired at every AGM & can be reappointed.
now out of these rotational directors sec 256 states that atleast 1/3rd rotational director must retire at every AGM.
Sec257 requires that to fill the vacany of rotational directors who retire by virtue of sec 256 either same directors can be reappointed or some other person can be appointed in AGM
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
