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of <h1>Eligibility for Directorship Under Section 257: Notice and Deposit Requirements for New Candidates in General Meetings.</h1> Section 257 of the Companies Act, 1956, outlines the eligibility of individuals, other than retiring directors, to stand for directorship at a general meeting. A candidate or a proposing member must submit a written notice at least fourteen days before the meeting, accompanied by a deposit of five hundred rupees, refundable if the candidate is elected. The company must inform its members of the candidature at least seven days before the meeting, either through individual notices or advertisements in two newspapers. This requirement does not apply to private companies unless they are subsidiaries of public companies.
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