Retirement by rotation

[Aanchal Chopra]

Dear members 

Please suggest whether retirement by rotation will be applicable to private companies which are wholly owned subsidiaries of public company. 

Regards

Cs Aanchal Chopra

[Arun Kumar Maitra]

All the provisions of a public company will be applicable to its WOS.

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[abhishek anand]

Hello everyone,

I have one query regarding the retirement of director by rotation.

In a public limited company there are 3 directors out of which one is Managing Director, so my question is whether the managing director will be counted in one third or not.

Thanks in advance.

Regards,

CS Abhishek Anand

[badal sharma]

Yes, the managing director is also liable to retire by rotation under the Companies Act, 2013. As per Section 152 of the Companies Act, every director, including the managing director, is subject to retirement by rotation.

However, there are certain conditions to be met in order for the managing director to retire by rotation. Firstly, the appointment of the managing director must be made in accordance with the provisions of the Companies Act, 2013 and the Articles of Association of the company. Secondly, the managing director must be appointed as a director of the company, 

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Thanks and Regards
Badal Sharma I CS, M.com, LLB, B.com, 
Company Secretary

Contact No. 9785376286