Section 152 (6) & (7) of companies act, 2013

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Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2014 Dear Experts,

My Question is based on the issue that, According to, Explanation of Section 152(6) of the companies Act, 2013 for Retirement in AGM,Independent directors shall not be counted in Computation of Total Number of Rotational Directors & now our Company has 10 Directors out of Which 5 are Independent, 3 are Managing Directors and 2 are Whole Time Director form which one WTD was re-appointed in the last AGM , so now my question is whether MD be counted in total number for computing the Rotational Director or and how many directors should retire by rotation in the next AGM is that necessary that the Board should make appointments in the AGM for more WTD's
KIndly suggest me
i would be greatful of Your's.

Vaiyapuri kannan

Vaiyapuri kannan (Expert)

16 September 2014 All existing independent director may continue as independent director subject to fulfilling the conditions specified in sec 149 of companies act 2013. whereas you have to re arrange others position as to comply the provisions contained in section 152 . I am sure that MD will be considered to compute overall 2/3 of total No of directors but independent director would not be considered to compute 2/3 of total directors

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