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Ca final company law: retirement of directors by rotation

CA Final 298 views 1 replies
Hello, I am preparing for CA Final May 2017 for the first time-self study Haven't been to any coaching classes. I am strictly following ICAI Study Material and Practice Manual and not referring to any other Author Books. Re: Company Law-Retirement of Directors by Rotation. In the study Material it is given that out of 2/3rd, 1/3rd will retire and if it is a decimal Number then "Number nearest to 1/3rd shall Retire". Further an example is given that If 6 are Total No of Directors, 4 will be liable to retire, and out of 4, 4x1/3=1.33 will retire i.e Only one will retire. But in the practice Manual Q 5, Pg: 3.5, it is stated as 2 will retire. Which is Right. I am not clear about the phrase ""Number nearest to 1/3rd shall Retire"". Let me know what it means. Does it mean Rounding off to nearest Decimal or considering any fraction as 1. Thank You.
Replies (1)
it could be like the practice manual has taken directly 2/3rd of total i.e,6 and it becomes 2. but what is given in text book is correct


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