Company Secretary
17139 Points
Joined January 2009
Yes
Section 160 provides for right of any person to stand for the position of a director in a company in a general meeting. The provision for deposit of Rs. 1 Lakh has been made prevent misuse this right by some persons. Section 160, is applicable in cases of appointment of directors other than retiring directors
The company shall inform its members of the candidature of a person for the office of a director or the intention of a member to propose such person as a candidate for that office, at least seven days before the general meeting by serving individual notices to members through e-mail and where no e-mail address is available then in writing and by placing notice of such candidature or intention on the website of the company, if any.
If the company advertises such candidature/intention, not less than 7 days before the meeting at least once in a vernacular newspaper in the principal vernacular language of the registered office’s district and at least once in English language in an English newspaper circulating in that district in which the registered office of the company is situated, then it shall not be required to serve individual notices upon the members as aforesaid.