Friends
In an unlsited public co. consisting of 9 directors, of which 1 is MD, 3 WTD's and the remaning 5 additional independent directors. The question arises as to who amongst them will retire by rotation pursuant to section 255, 256 of companies act?
Addilitional directors by virtue of section 260 will automatically retire and offer themselves for reappointment.
MD, WTDs would not retire as per terms of contract.
Regards,
CAclubindia
