Section 255 of companies act, 1956
This query is : Resolved
CS Subodh Kumar
(Querist)
24 September 2012
Dear all the members,
Good Morning
Please tell me no of rotational director in case of Public Limited company when there are five directors.
Thanks
Good Morning
Please tell me no of rotational director in case of Public Limited company when there are five directors.
Thanks
CS Ankur Srivastava
(Expert)
24 September 2012
In case of 5 director under section 255 at least 2/3 i.e. 3.33 i.e. 4 directors shall be rotational and out of such 4 directors 1/3 i.e. 1 director shall retire at AGM.
Above 3.33 has been taken as 4 because the section provides for atleast which means not less than 3.33 so it has to be more than 3 directors which is 4.
Above 3.33 has been taken as 4 because the section provides for atleast which means not less than 3.33 so it has to be more than 3 directors which is 4.
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