rotational director

This query is : Resolved

pankaj (Querist)
Follow

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.

CA SAURABH GARG

CA SAURABH GARG (Expert)
Follow

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.

udit sharma

udit sharma (Expert)
Follow

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.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now