Become Govt. Certified GST Practitioner in just 58 hrs. Register Now!

Query

01 April 2015

Is the director who is appointed as filling of casual vacancy by board can be classified under rotational or non rotational...

Reply
Follow
Share

6 Replies

Maithili (1) (476 Points)
Replied 01 April 2015

Non - rotational Director (NRD)

(Sec. 152 - Any Director appointed other than in A.G.M. is a Non rotational Director)

A Director appointe Casual Vacancy is appointed by Board of Directors(i.e. in Board Meeting and not in A.G.M)

So he is a Non Rotational Director

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Nitish Agrawal (CA) (810 Points)
Replied 01 April 2015

But in PM of law it has been considered as rotational director...in an answer of a que given in page no. 3.4....so what to do? Is it wrong....

Maithili (1) (476 Points)
Replied 01 April 2015

Yes it is wrong as per my knowledge

I hope u are talkin about Q.5 of Dec,2014 edition of Practice manual

where Mr.Casual is appointed in place of Mr.Soul .. .

Actually the 6 Rotational Directors must be (Mr.First , Mr.Second, Mr.Third ,Mr. Fourth ,Mr.Fifth & Mr.Excellent)

Mr.Excellent - Bcoz a Managing Director can be a Rotational or Non-Rotational director

whereas Mr. Casual will Hold office till unexpired term of Mr.Soul (as given in Point (ii) of the Anwer.

Nitish Agrawal (CA) (810 Points)
Replied 01 April 2015

Okk fine but more thing that even mr excellent is a non rotational director as his period is fixed and that would be 5 rotational directors instead of 6 as it is clearly given dat md not liable to retire by rotation and position of 8 remaining directors given....in i point 2 included in ii point 1 and hence remaining would be 5....

1 Like