section 152 provides that not less than 2/3rd of directors shall be liable to retire by rotation. Pl advice if a company has 5 directors and therefore 3.33 directors shall be retirable then whether such board should have 3 or 4 retirable directors.
note that rounding off to nearest number related proviso is for determining 1/3rd
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determination on number of directors liable to retire by rotation
Replies (1)
the number of rotational directors comes here 3.33, it will be taken as 4. Further, 1/3rd of rotational directors comes 1(1/3rd of 4, nearest to
1)
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