Sarada (N.A.) (63 Points)
12 April 2013In a Public Limited Co., there are 10 directors. 3 whole time directors, 1 nominee director and 6 non-executive directors. For calculation of directors liable to retire by rotation, do we need to include the nominee director? 2/3 of the board will be 7 directors, if we include nominee director. Hence do we need to appoint one more director or does the 2/3 exclude nominee director?
Regards,
Sneha
(Company Secretary)
(1594 Points)
Replied 12 April 2013
Nominee Director is not liable to retire by rotation.
Total rotational directors will be 6.
Pavan Zavar
(NA)
(57 Points)
Replied 14 April 2013
|
Total strength of directors for the purpose of section 255 |
9 |
|
2/3rd of total strength will be |
6 |
|
1/3rd of Directors due to retirement will be |
2 in the 1st year 2 in the 2nd year, and 2 in the 3rd year
|
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