Query regarding retirement for director of ltd.co.
This query is : Resolved
12 March 2016
Is there any age limit for retiring directors of public limited company?
As per companies act 2013 providing any section regarding this.
14 March 2016
Section 196(3) of the Act makes a specific prohibitory provision with regard to the appointment of managing director, whole time director or manager. The section lays down that no company shall
appoint or continue the employment of any person as its managing director, whole time director or manager who has attained the age of seventy years:
Provided that appointment of a person who has attained the age of seventy years may be made by passing a special resolution
appoint or continue the employment of any person as its managing director, whole time director or manager who has attained the age of seventy years:
Provided that appointment of a person who has attained the age of seventy years may be made by passing a special resolution
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