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    Retire by rotation in public company

    Posted By : Neha / Published on : 07-Sep-2017 03:18 PM / View : 1168 / Comment : 1

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    What is the retire by rotation concept in case of an unlisted public company?
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    • Dear Mam,

       

      The concept of retirement by rotation in unlisted public company is similar to any listed company, i.e. 1/3rd of the total Board of Directors are liable to Retire by rotation every year and they are eligible for re-appointment subject to approval of shareholders.

      The concept basically means every year 1/3 rd of directors will need to go shareholders for their appointment means technically entire Board needs shareholders approval in every 3 years. However, certain set of Directors are excluded from the compulsory retirement every year.

      09-09-2017 / 11:46:21 AM
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