Sec. 255 & 256 of co. act
This query is : Resolved
CA Sahil Singla..
(Querist)
26 October 2011
Experts
Please let me know whether following directors will be considered in 'Total No. of Directors' for the purpose of Sec. 255 & 256 of Co. Act, 1956 -
1. Alternate Director
2. Director appointed by LIC as nominee
3. Director appointed by ICICI as nominee
4. Director appointed by C.Govt. u/s 408
5. Director appointed by board to fill casual vacancy
Also, tell me whether following Directors' will be treated as Non-rotational Directors -
1. Director appointed to fill casual Vanancy
2. Director appointed by ICICI as nominee
3. Director appointed by LIC as nominee
Please let me know whether following directors will be considered in 'Total No. of Directors' for the purpose of Sec. 255 & 256 of Co. Act, 1956 -
1. Alternate Director
2. Director appointed by LIC as nominee
3. Director appointed by ICICI as nominee
4. Director appointed by C.Govt. u/s 408
5. Director appointed by board to fill casual vacancy
Also, tell me whether following Directors' will be treated as Non-rotational Directors -
1. Director appointed to fill casual Vanancy
2. Director appointed by ICICI as nominee
3. Director appointed by LIC as nominee
26 October 2011
provision of sec 255 & 256 not apply to
1. alternate director u/s 313
2. nominee Directors
3. Director appointed by filling casual vacancy u/s 262
and all they above treated as non rotational dirtectors
1. alternate director u/s 313
2. nominee Directors
3. Director appointed by filling casual vacancy u/s 262
and all they above treated as non rotational dirtectors
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CA Sahil Singla..
(Querist)
26 October 2011
Sir
Thanks for your simple reply. But according to me the nominee directors appointed by ICICI shall be considered in total no. of directors u/s 255 & 256 ? since ICICI is not an institution established under special act. Am i right sir ?
Thanks for your simple reply. But according to me the nominee directors appointed by ICICI shall be considered in total no. of directors u/s 255 & 256 ? since ICICI is not an institution established under special act. Am i right sir ?
CA Sahil Singla..
(Querist)
26 October 2011
though as u said they will be non-rotational directors
26 October 2011
You right sahil nominee director of ICICI will be considered in total no of rotational directors..but director of LIC which is established by special act of parliament not counted for total no of directors.ICICI ltd. not corporation which is established by special act
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