hello everyone, i wanted to know what is retirement by rotation in case of Director and whether is it applicable to a director in a private limited having the minimum number of directors that is 2?
thanks....
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retirement by rotation & applicability to PVT. Ltd. Director
Replies (2)
Retire by rotation applies when there are 3 directors ... and every director retires there on subsequently ....
Dear Ritesh,
Section 255 regarding retirement of director by rotation is not applicable to a Private Company. Directors of a private company can continue their office without any break.
However if such private company is subsidiary of a public company then section-255 is applicable to such private company.
Regards
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