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retirement by rotation

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 November 2010 Dear friends and seniors,

Please guide me on the following issue:

In an unlisted public company in FY 2008-09 there were 3 directors out of them 2 directors retired by rotation and reappointed in the AGM for FY 2008-09. In FY 2009-10 3 additional directors were appointed who will be regularised in this years (i.e. FY 2009-10) AGM.

As per section 256 of the Companies Act, 1956 1/3 of the total strength of the directors in every AGM. Now only 1 director is avilable out of Old directors for Retirement by rotation in this years AGM.

Please guide me on the above case.

Regards,

Nikhil D.
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Ramasubbu K

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Ramasubbu K (Expert)
27 November 2010 The one director shall be retire by rotation.
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Ajay Mishra

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Ajay Mishra (Expert)
29 November 2010 Agreed with Sir....


Only one director which are not retire last FY 2008-09 will retire this FY 2009-10.



Regards
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