Whether vacation of office of director on account of not attending board meetings under Section 167(1)(b) has effect?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 ROHIT SINGH asked about 3 years ago

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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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered about 3 years ago

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.

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