Retire by rotation
This query is : Open
15 December 2010
Our company is a public company (State Government Undertaking). There are total 11 directors on our board out of which 10 are Nominee Directors. To the best of my knowledge provisions of retire by rotation is not applicable on Nominee Directors.
My question is that, how many directors are liable to retire by rotation at each AGM.
My question is that, how many directors are liable to retire by rotation at each AGM.
15 December 2010
Hi Ashish...
According to me the remaining Director shall retire at every AGM of the Company.
God Bless
Udit Sharma
According to me the remaining Director shall retire at every AGM of the Company.
God Bless
Udit Sharma
15 December 2010
There is only one independent director. so whether he will retire at every AGM.
16 December 2010
I think this is the only course available.
We have seperate provisions for audit of govt. companies viz., appointment of auditor by passing a Special Resolution, audit of accounts by an auditor appointed by Comptroller and Auditor General, etc. Same way do we have any provisions governing appintments, retirements by rotation, etc. of directors as majority of the directors are nominated by Govt. in such companies. I haven't come accross any such provisions.
Experts please give your comments.
We have seperate provisions for audit of govt. companies viz., appointment of auditor by passing a Special Resolution, audit of accounts by an auditor appointed by Comptroller and Auditor General, etc. Same way do we have any provisions governing appintments, retirements by rotation, etc. of directors as majority of the directors are nominated by Govt. in such companies. I haven't come accross any such provisions.
Experts please give your comments.
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