06 May 2011
hi plz help me,m confusing in rotational director,actualy i want to know the meaning of rotation here,can it be more than one year ie,after two AGM.
07 May 2011
Rotational director means Director retired at each AGM. This may be minimum 1/3 part of Directors retired by rotation. However rotational director may reappointed in the same AGM.
07 May 2011
As per the provisions of section 255 of the Companies Act, 1956 in case of a Public Limited or a Private Limited Company which is a subsidiary of a Public Limited, unless the Articles provide for the retirement of all the Directors at the AGM of the Company, at least 2/3rd of the total number of Directors shall be the Directors who shall be liable to retire by rotation every year at the Annual General Meeting of the Company.
Out of the 2/3rd of the total number of Directors whose office is liable to retire by rotation, 1/3rd shall actually retire by rotation at the ensuing Annual General Meeting.
The Directors must retire by rotation every year at the AGM of the Company.
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