https://www.taxtmi.com/caselaws?id=97356 Nominated director tenure does not automatically end when shareholders entitled to appoint the director cease holding the shares required under the articles, unless the articles or statutory framework expressly provide for that consequence. The articles exhaustively specified the circumstances in which a nominated director could cease to hold office, including a written request by the appointing party and other stated contingencies. Loss of the appointing group's power to remove the director could not itself create a vacancy. No additional ground for vacation of office could be implied merely from the loss of qualifying shareholding. The director therefore remained in office, and the appeal failed. en-us Fri, 04 Nov 1955 00:00:00 +0530 Mon, 16 Jan 2012 13:43:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97356 Nominated director tenure does not automatically end when shareholders entitled to appoint the director cease holding the shares required under the articles, unless the articles or statutory framework expressly provide for that consequence. The articles exhaustively specified the circumstances in which a nominated director could cease to hold office, including a written request by the appointing party and other stated contingencies. Loss of the appointing group's power to remove the director could not itself create a vacancy. No additional ground for vacation of office could be implied merely from the loss of qualifying shareholding. The director therefore remained in office, and the appeal failed. Case-Laws Companies Law Fri, 04 Nov 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97356