ROHIT SINGH
asked
Whether vacation of office of director on account of not attending board meetings under Section 167(1)(b) has prospective or retrospective effect?
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veeru
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The said section is applicable from 1st April 2014. It means that if a director absents himself from all board meetings held during a period of twelve months w.e.f. April 1, 2014 with or without obtaining leave of absence, his office as director shall become vacant. Hence, vacation of office has prospective effect.
