Hello Experts,
Section 167 states the circumstances under which a director shall vacate his office. One among the situation is his failure to disclose his interest in any contract in which such director is interested. On account of such failure, whether he is liable to vacate his office of that company only or he should vacate the office of all companies in which he is a director. If he is a director in 5 companies in total, whether from 5 companies he should vacate? Kindly clarify
Thanks in advance.
CAclubindia
