Hi All,
In a private limited company, there are 1 director and 2 additional director. If there is no AGM then additional director would retire after 15 Months. What should be directors action. If director does not do anything then does additional director are responsible for affairs of the company after 15 months also.
First a fall additional directors will not vacate after 15 months. He will vacate his office when AGM was actually held if not held then last due date of AGM.
Additional Directors are responsible till the date he holds office not later. Additional director will be liable after vacation of office if he was involved any fraudulent activity or which is against public interest or committed any offence.
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