28 January 2015
can anyone plz explain d concept of rotational, retiring directrs which director is excluded for calculation of 1/3 rd directors who r non retiring as per new co.act
28 January 2015
As per section 152(6) of the companies act, 2013 unless article otherwise provide for retirement of all directors, at least two-thirds of the Directors of a public company have to retire by rotation and the term "rotational Director" refers to such Directors who have to retire (and may, subject to the Articles, be eligible for re-appointment) at the end of his or her tenure.
The requirement of retirement by rotation is not applicable to independent directors.
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