XYZ company having total number of directors as 8 including one independent director one nominee dir...........

Companies Act-Phase (I & II) Directors - powers and appointment

XYZ company having total number of directors as 8 including one independent director, one nominee director, one small shareholders director and five other directors. Calculate the number of directors to be retire at next AGM to be held:

Two directors

Three directors

Four directors

One director

None of the above

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Explanation:

As per section 152 of Companies Act, 2013, unless the AOA provides for the retirement of all the directors at every AGM,not less than 2/3^rd of total number of directors of a public company shall be directors liable to retire by rotation. At every AGM, 1/3^rd of such directors will liable to retire by rotation. If their number is neither three nor a multiple of three, then, the number nearest to 1/3^rd shall retire from office. However, nominee directors, independent directors, small shareholders directors, directors appointed by proportional representation, directors appointed by tribunal are not counted in total directors while calculating 2/3 directors.