26 July 2011
acc to sec 255, dirctors are lible to retire by rotation,its not mention anywhere is that only additional directors or executive directors is also lible to retire by rotation..pls explain
27 July 2011
As per Companies, Act the tenutre of the office of additional director is upto the next AGM after his/her appointment so there is no question to consider him/her under section 255 ans 256 the other exemption under later sections are nominee directors and director appointede by the governmet so in nutshell all executve as well as non-executive directors are liable to retier by rotation except 1) Additional Director 2) Nominee Directors and 3) Director appointed by govenmet.
27 July 2011
Yup ETEN is god for IPCC and rest is dependent on person to person.
gudluck
Querist :
Anonymous
Querist :
Anonymous
(Querist)
28 July 2011
this is ordinary resolution, but if we consider executive director to retire by rotation to whom we appoint as a jt MD for a five years then in this case there is need to pass a special resolutin or not for it.please clear it ...
29 July 2011
Dear, MR Ankit is right , additional directors retirement is not cover under the rotations retirement scheme . And rest all independents and executive directors is retire 1/3 in every year by rotations method
CAclubindia
