tenure of chairman

u didn't mwention the nature of compnay Whether Public or Private.As public companies r guided by the provisions of  co Acr 1956, the title of life chairmanship r not applicabel now. for pvt companies or closedly held companies, there are no restrictions.

I think there is no restriction regarding life Chairmanship. To understand casting vote power of chairman download the file from the link given below and check page number 10.

Company Law Notes_My Best File