15 October 2014
My Question is Whether Any Director or Majority director are Power to Remove one of Them Director By Way of Board Resolution? And Also the Provide in Which Section this Provision are Applied & Procedure Thanks in Advance
A company may, remove a director except the director appointed by National Company Law Tribunal u/s 242, before the expiry of the period of his office after giving him a reasonable opportunity of being heard after passing the ordinary resolution.
A special notice shall be required of any resolution, to remove a director under this section, or to appoint somebody in place of a director so removed, at the meeting at which he is removed.