Hello!
Please, tell me that whether the life time Chairman of a public limited company is liable to retire by rotation u/s 255 of the Companies Act, 1956?
Thanks.
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retirement of chairman by rotation
Replies (3)
Dear Swati,
It depends on the terms of appointment and also Articles of Association of the Company may also provide that the Chairman will not retire.
No.
However provisions of resolutions appointing the person along with AOA shall prevail.
Regards
What do you mean by Life time Chairman, if it is an Executive Director name as Chairman in the Articlies of the Company as Chairman.
He needs not to retire by rotation. Of course provisions of AOA will prevail.
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