retirement by rotation
akshay Dubey (7 Points)
20 March 2018
what is retirement by rotation? is it mandatory for all directors to retire by rotation?
akshay Dubey (7 Points)
20 March 2018
Divakar
(Student CA Final )
(11857 Points)
Replied 20 March 2018
CS Smreti
(cs)
(641 Points)
Replied 20 March 2018
Vinayak Mishra
(192 Points)
Replied 21 March 2018
Jatin Bajaj
(CS)
(2930 Points)
Replied 21 March 2018
As per Section 152(6) of the companies act 2013, directors liable to be retire by rotation applicable only to public companies
2/3rd of the directors liable to be retire by rotation and out of 2/3, 1/3 of the Director retire by rotation every year.
Directors whose tennure will be longest will retire first. These provisions are not applicable to independent and non executive directors and directors appointed by small shareholder.
Vinayak Mishra
(192 Points)
Replied 21 March 2018
Jatin Bajaj
(CS)
(2930 Points)
Replied 22 March 2018
Check the provision under articles weather there is provision for additional directors for retirement by rotation. But as per section 152(6) of the companies act save as expressely provided the directors who shall be rotated at every agm shall be the directors who are appointed in AGM and additional directors are not included till they are regularized in AGM
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