28 February 2011
Mr.X was appointed as Addl Director liable to retire by rortation in 2005. Then he was appointed as Executive Director in that year for 3 years term. Then again he was reappointed as ED in 2008 for another 3 years term. Now in 2011 he was not reappointed as ED. But he continued as Ordinary Director. Whether he can be considered as director liable to retire by rotation as being longest in the office and can retire if not reappointed as director? Please suggest. Its urgent. Thank you
28 February 2011
In 2011 Mr. X Ceased to be an ED. So, from 2011 he is a Director liable to retire by rotation at the AGM of the Company(applicable only in case of a Public Limited Company or a Private Company which is a subsidiary of a Public Limited Company).
In considering which Director has been the longest in the office from the date of his last appointment, in case of Mr. X the date of change in his designation shall be considered as the date from which he is holding the office of Director liable to retire by rotation and will be the date of his last appointment.
CAclubindia
