29 November 2010
a private company who is subsidiary of public company. therefore such private company is equated with a public company....so it has to follow section 255: rule as to the retirement of directors by rotation.
my que. is - 'if such private company have existing artile that no director appointed by retire by rotation. then it is required to amend the article of private company to insert proper provision of retire by rotation.'
29 November 2010
In my view, do not amend the article. The provisions of the act will override the provisions of the article.
In any case, the Act will apply. The fact that the company is today a WOS of public limited company may change in the future and at that point of time to change the articles would be an additional procedure.
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