Private company - retirement of director
This query is : Resolved
27 July 2014
One clause of AOA as " The number of Directors of the company shall not be less than two and not more than twelve and shall not be liable to retire by rotation"
Next clause of AOA reads as " Subject to provisions of Section 260,262 and 264 and 284 (6) of the Act, the board shall have the power to appoint a Director to fill casual vacancy or as addition to the Board. Any Director so appointed shall hold office only till next AGM."
Question : From above clauses can one interpret that All Directors are permanent directors except casual and additional directors?
Next clause of AOA reads as " Subject to provisions of Section 260,262 and 264 and 284 (6) of the Act, the board shall have the power to appoint a Director to fill casual vacancy or as addition to the Board. Any Director so appointed shall hold office only till next AGM."
Question : From above clauses can one interpret that All Directors are permanent directors except casual and additional directors?
27 July 2014
Yes you can definitely interpret that.
As per section 260 of CA 1956 an Additional Director can act only till the conclusion of next AGM.
As per section 262 a director appointed to fill the casual vacancy can act for the remaining tenure of resigning director.
Thanks
As per section 260 of CA 1956 an Additional Director can act only till the conclusion of next AGM.
As per section 262 a director appointed to fill the casual vacancy can act for the remaining tenure of resigning director.
Thanks
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