is a whole time director liable to retire by rotation in AGM? pls clarify
3 Replies
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 02 September 2009
Hi,
Whether a WTD is rotational or non-rotational depends on the language of the resolution appoint him as WTD.
If in resolution he is not mentioned as rotational director then you may consider him as non-rorational director.
Further if resolution is silent then you should consider him as non-rotational.
Regards
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 03 September 2009
Hi
Its depends on terms and conditions of appointment of Whole time director.
Regards
(Guest)
WTD/MD can not be retire by rotation in any case.If it is mentioned in the resolution, then also it is wrong.
Because it is clearly mentioned in the act that the director's are liable to retire by rotation. not the MD/WTD are retire by rotation.
The act also specifies the different provision for the MD/WTD everytime.
For Example, (1) Appointment of MD/WTD can be done by entering into agreement only.
(2) Signing of annual return by MD/WTD.
(3) and in MD/WTD case only period of appointment has to be speccified.
MD/WTD is special type of directors.
So, MD/WTD is not liable to retire by rotation in any case.
If you need further clarification than contact me.
Ankur Shah (Practicing Company Secretary)
“Guru Gautam” Bungalow, Inside Parshwa Tower,
Nr. Shyamal Cross Road, 132ft. Ring Road,
Satellite, Ahmedabad – 15
Contact: + 91-9427633901
E-mail:
Blog: csankur.blogspot.com
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