Life time director

In a private company provisions relating to rotational retirement of director u/s 255 and 256 are not applicable. So it is not compulsory for a private company director to retire rotationally.

Hence we may consider the directors appointed in a private company as a director appointed for life.

Wait for other opinions.

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Mr Ramjethmalani argued in the case of RIL vs RNRL, that life time director 's (i.e. Mukesh Ambani) MOU for contract binding on company is it true? plz reply