Appointment of Directors to be Voted Individually
(1) At a general meeting of a company, a
motion for the appointment of two or more persons as directors of the company
by a single resolution shall not be moved unless a proposal to move such a
motion has first been agreed to at the meeting without any vote being cast
against it.
(2) A resolution moved in contravention of
sub-section (1) shall be void, whether or not any objection was taken when it
was moved.
(3) A motion for approving a person for
appointment, or for nominating a person for appointment as a director, shall be
treated as a motion for his appointment.]
Option
to Adopt Principle of Proportional Representation for Appointment of Directors.
Notwithstanding anything contained in
this Act, the articles of a company may provide for the appointment of not less
than two-thirds of the total number of the directors of a company in accordance
with the principle of proportional representation, whether by the single
transferable vote or by a system of cumulative voting or otherwise and such
appointments may be made once in every three years and casual vacancies of such
directors shall be filled as provided in sub-section (4) of section 161.
DISCLAIMER: THE
ARTICLE IS BASED ON THE RELEVANT PROVISIONS AND AS PER THE INFORMATION EXISTING
AT THE TIME OF THE PREPARATION. IN NO EVENT I SHALL BE LIABLE FOR ANY DIRECT
AND INDIRECT RESULT FROM THIS ARTICLE. THIS IS ONLY A KNOWLEDGE SHARING
INITIATIVE.
THE AUTHOR
– CS DEEPAK SETH (ASSOCIATE PARTNER HELPINGHANDS PROFESSIONALS LLP) AND
CAN BE REACHED AT CONTACTHHPRO@GMAIL.COM OR 9910248911.
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