Respected Sir ( Mr Ankur Garg )
Sir please explain me the appointment of First Directors and Subsequent Directors ( SEC 254 / 255 / 256)..
If there is nothing about the First Directors in the Articles ,then all the subscribers to the memorandum are deemed to be the first directors and they shall hold the office till the diredctors are duly appointed as per SEC 255..
SEC 255 tells about the Rotational and Non -Rotationa l Directors.2/3rd shall be the Rotational Directors.
SEC 256 PROVIDES THAT """ at the first AGM of the Public Company or its subsidiary private company held next after the date of the general meeting at which the first directors are appointed in accordance with Sec 255..........................1/3 rd of such directors shall retire.......................
Sir here comes the confusion about the General Meeting . WILL THERE BE TWO GENERAL MEETINGS first under Sec 255 and the second under SEC 256.
Sir PLEASE elaborate this point.Iam very confused on this point.
THANKS
CAclubindia
