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of <h1>Section 160 of Companies Act 2013: Eligibility and Deposit Rules for Non-Retiring Director Candidates at General Meetings.</h1> Section 160 of the Companies Act, 2013 allows individuals who are not retiring directors to be eligible for directorship at a general meeting. To be considered, the candidate or a proposing member must submit a written notice and a deposit of one lakh rupees or a prescribed higher amount to the company's registered office at least fourteen days before the meeting. This deposit is refunded if the candidate is elected or receives more than 25% of the votes. The deposit requirement is waived for independent directors or those recommended by the Nomination and Remuneration Committee or the Board of Directors. The company must inform its members of the candidacy.
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