Whole time director retire by rotation

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chinki (Querist)
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20 February 2014 I am having a doubt regarding directors retiring by rotation in a public compny. Please let me know, whether the concept of directors retiring by rotation is applicable to whole time Directors or not?
And in a company whether all directors be whole time directors.

SHAKTI JINDAL

SHAKTI JINDAL (Expert)
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20 February 2014 There is no restriction in the Companies Act, 1956 for a whole-time director to retire by rotation, subject of course to restriction, if any contained in the AOA. Further, subject to section 255 of the Companies Act, 1956, all directors in the company can be whole-time directors.

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chinki

chinki (Querist)
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21 February 2014 In my company there are 4 directors and all are whole time directors.
so i need to comply section 255 or not?

SHAKTI JINDAL

SHAKTI JINDAL (Expert)
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22 February 2014 Yes, compliance with section 255 is required.

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