Festive Savings Are Here. Get 10% OFF on All CCI Pro Plans. Subscribe Now!

Hi all,

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

21 October 2013 can anybody please give an appropriate explanation of section 255 and 256 i.e appointment of directors and proportion of those who are to retire by by rotation and ascertainment of directors retiring by rotation and filling of vacancies

Guest

Guest (Expert)

01 November 2013 see sec 255,256 applies on a public co only.
Rotational directors are those who are liable to retire by rotation at AGM.though all directors can be rotational but minimum 2/3rd directors has to be rotational.A rotational director can be a MD/WTD of a company but in that case also he should be retired at every AGM & can be reappointed.

now out of these rotational directors sec 256 states that atleast 1/3rd rotational director must retire at every AGM.

Sec257 requires that to fill the vacany of rotational directors who retire by virtue of sec 256 either same directors can be reappointed or some other person can be appointed in AGM

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now