Small shareholders' director election: nomination, consent, postal ballot or meeting recommendation, and limited tenure with re-election option. Election of a small shareholders' director requires a nomination notice signed by at least 100 small shareholders delivered at least 14 days before the meeting specifying the nominee's details and share particulars; the nominee must file written consent. Listed companies must use postal ballot; unlisted companies may appoint the nominee if a majority of small shareholders recommend the candidature. The director serves a maximum three-year tenure, may be re-elected, is governed by Companies Act requirements, but need not retire by rotation and cannot be appointed as whole-time or managing director.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Small shareholders' director election: nomination, consent, postal ballot or meeting recommendation, and limited tenure with re-election option.
Election of a small shareholders' director requires a nomination notice signed by at least 100 small shareholders delivered at least 14 days before the meeting specifying the nominee's details and share particulars; the nominee must file written consent. Listed companies must use postal ballot; unlisted companies may appoint the nominee if a majority of small shareholders recommend the candidature. The director serves a maximum three-year tenure, may be re-elected, is governed by Companies Act requirements, but need not retire by rotation and cannot be appointed as whole-time or managing director.
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