Good Evening friends,
Kindly suggest me on the following:
A unlisted public company issued AGM notice without mentioning the item of appointment of three retiring directors whose place of office was required to be discussed and consider in the respective AGM.
The AGM held on due date and discussed the matters except re-appointment of retiring directors and minutes also got finalised.
However, the director report of the Company, which circulated with the notice of the AGM has prescribed that these three directors were appointed as additional directors and are liable to retire by rotation in the ensuing annual general meeting. Except this, nowherere mentioned about the fact of re-appointment of retiring directors.
No adjourn meeting was there.
Kindly suggest, whether, these three directors will deemed to be re-appointed at the AGM or their offices have vacated.???
Your valuable and prompt suggestions are much required on the same. Kindly share your view with any supporting case law or with any express provisions of the act in this regard.
Thanks you very much in advance.
Thanking you,
CAclubindia
