Which directors are liable for rotation ?
This query is : Resolved
Guest
Guest
(Querist)
15 September 2009
Query regarding Rotational Directors :
ABC Limited has three First Directors on it's board.
How we determine the rotational director, out of the above three First Directors ?
I look forward to receive the response.
ABC Limited has three First Directors on it's board.
How we determine the rotational director, out of the above three First Directors ?
I look forward to receive the response.
15 September 2009
As per section 255, not less than 2/3rd of total number of directors shall be the directors whose period of office is liable to determination by retirement by rotation (any fraction contained in that 2/3 shall be rounded off as one)
And as per section 256, at the first AGM and every subsequent AGM 1/3rd (or nearest to 1/3rd) of directors liable to retire by rotation shall retire from the office.
In view of the above provisions:
1) Number of Rotational Directors = 2 directors and
2) Number of Director who shall retire at the first AGM and every subsequent AGM = 1 director.
And as per section 256, at the first AGM and every subsequent AGM 1/3rd (or nearest to 1/3rd) of directors liable to retire by rotation shall retire from the office.
In view of the above provisions:
1) Number of Rotational Directors = 2 directors and
2) Number of Director who shall retire at the first AGM and every subsequent AGM = 1 director.
16 September 2009
Provisions connected with rotational retirement are not applicable to the first director of the company.
Read sub section (1) of section 256 very carefully.
Regards
Read sub section (1) of section 256 very carefully.
Regards
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