1987 (3) TMI 417

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....ction 284. J.S. Narang for the Petitioner. L.M. Suri for the Respondent. JUDGMENT S. P. Goyal, J.-This application has been filed with two prayers that the terms and conditions for conducting the affairs of the company may be settled by the court and that the petitioners be allowed to function as directors of the company, but at the time of the arguments, the claim was confined to the ....

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....bsidiary of a public company. There is no provision for retirement of any director periodically of a company, which is neither a public company nor a private company which is a subsidiary of a public company. Their retirement entirely depends on the provisions of the articles of association of the company. As no fixed period has been provided for the retirement of directors in the articles of asso....