Explain the manner in which the appointment of a 'nominee director' is regulated under the provisions of the Companies Act, 2013 and also state : (iii) Whether a nominee director is liable to retire by rotation and can b
CS Professional · Advanced Company Law and Practice · PYQS · December 2016
Explain the manner in which the appointment of a 'nominee director' is regulated under the provisions of the Companies Act, 2013 and also state : (iii) Whether a nominee director is liable to retire by rotation and can be removed by the company in general meeting ?
Answer & Explanation:
(iii) Retirement by rotation of nominee directors as well as their removal in general meeting is guided by the Agreement between the nominating Agency and the company. In case the agreement is silent, then provisions of Articles of Association will prevail.
Topics: Directors
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