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Term of Independent Directoe

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3 Points Posted on 03 February 2020
As per CA ID can be appointed for a term of 5 years and two consecutive term. what if he complete his first term and opts not to offer himself for reappointment. After 2 months can he be reappointed on same capacity.
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On 03 February 2020 at 17:32 Report
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53 Points Posted on 05 February 2020
Dear Vishal,

In my opinion he can not be appointed without a cooling period of 3 years because if we give proper weight to the word used therein section 149(10) "2 consecutive terms" and in the present scenario you are saying, is not a consecutive term.
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On 05 February 2020 at 13:47
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3 Points Posted on 05 February 2020
What about his second term. He has completed his first term and resigned due to his personal reason. After 2 months he informed that he is available for appointment and board want to appoint him as ID. In this case does he has observe cooling period.
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On 05 February 2020 at 13:57
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53 Points Posted on 05 February 2020
My emphasis on the word "Consecutive" given in section 149 sub section (10).
I think if there is a gap, he can not be said to be consecutively reappointed.
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On 05 February 2020 at 14:07


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