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urgent ----non retational directors

reena (42 Points)

18 January 2008

a public limited company having 4 director can have 3 whole tine directors or not in terms of sec 255 256 of the company act

who will retire at agm

according to company law at least of 1/3 can be non rotational and out of remaining 2/3 will be retire to retire by rotation in the span of 3 years

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6 Replies

CA. Amit Daga (Finance Controller CA. CS. CFA. CIFRS. M.COM. ) (9017 Points)
Replied 18 January 2008

Reena your question is not clear.. Please properly interperate it

(Guest)

1)what is rotational and non rotational directors 2)provision regarding past members to be held liable as contributory under companies act 1956

Rahul (Company Secretary & Manager-Legal) (216 Points)
Replied 07 March 2008

As per Sec. 255... maximum permanent/non-rotational directors can be 1/3rd of total nos. of directors. so if total nos of directors are 4...then permanent directors can be only 1.

tanvi (CS) (57 Points)
Replied 07 March 2008

According to the Law, 2/3rd of strength of Directors would be liable to retire by rotation out of which 1/3rd will retire every year. In your case- 3 directors would be liable to retire by rotaion and1 will retire every year