Sec 151 of Companies Act,2013

In section 151, the small shareholder director has a cooling off period of 3 years from the date of ' ceasing to hold office '. Does ceasing to hold office include cases of disqualification and vacation or only expiry of period to hold office?
Thank you.
Replies (2)
Quick Summary
This discussion clarifies Section 151 of the Companies Act, 2013, specifically regarding the 3-year cooling-off period for small shareholder directors. It confirms that 'ceasing to hold office' encompasses all forms of departure, including resignation, vacancy, disqualification, and removal, not just the expiry of the term.

Cesation of office can be by any mode
- Resignation
- Vacancy
- Disqualification
- Removal

Conclusion : Yes ceasing of office would include disqualification and vacancy
@ Hariom Viradiya Thank you.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register