Rotational directors
This query is : Resolved
divita agarwal
(Querist)
10 November 2013
is ssd counted in 'total number of directors' for the purpose of sec 255 and 256?
Ajay Mishra
(Expert)
10 November 2013
Hi
The small shareholders' director need not have to retire by rotation. He shall be appointed for a maximum period of 3 years subject to meeting the requirement of provisions of Companies Act.
On expiry of his tenure, the same person if so desired by small shareholders, may be elected for another period of 3 years.
Such director shall not be appointed as whole-time director or managing director. However, he will be treated as director for all other purposes.
The small shareholders' director need not have to retire by rotation. He shall be appointed for a maximum period of 3 years subject to meeting the requirement of provisions of Companies Act.
On expiry of his tenure, the same person if so desired by small shareholders, may be elected for another period of 3 years.
Such director shall not be appointed as whole-time director or managing director. However, he will be treated as director for all other purposes.
Nikhil Kaushik
(Expert)
10 November 2013
agreed with Ajay Sir.
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