In a company there are 7 directors. In this one director is not liable to retire by rotation. if we compute 1/3 for retire by rotation we get 1.3 we have to take 2 directors or 1 director ? ( subject to sec 255 and 256)
thanks in advance
Menu
Retire by rotation
Replies (8)
2 directors will retire by rotation.
TWO DIRECTORS WILL RETIRE BY ROTATION. WE SHOULD TAKE THE HIGHER SIDE WHILE ROUNDING UP.
2
as per sec 255 , 2/3 of directors liable by rotation. so comes in ur case 4.66 =5 directos. a co can increase it by provisions in article bt cant decrease it in any case.
and 1/3 of 5 shall to be retire by rotation dat comes 1.66= 2 directors who r longest in office.
Agree with rakesh
2 directors
agree with above views
Recent Topic
- Query for practicing CAs — how does your fir
- Treatment of NPS arrears in form 10E / ITR
- Sale of shares from non resident
- SEC 10(10CC) - TAX PAID BY EMPLOYER ON NON-MONETAR
- Buy back of shares
- Capital gain and federal tax withholding
- TIS amount
- Reimbursed income
- Bricks Klin
- Compile error in hidden module: Sheet1. (ITR 5 exc
Related Topics
CAclubindia
