Number of directorships.

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....n be appointed as a director shall not exceed ten. Exiplanation.-- For reckoning the limit of public companies in which a person can be appointed as director, directorship in private companies that are either holding or subsidiary company of a public company shall be included. (2) Subject to the provisions of sub-section (1), the members of a company may, by special resolution, specify any les....

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....f sub-section (3) shall become effective immediately on the despatch thereof to the company concerned. (5) No such person shall act as director in more than the specified number of companies,-- (a) after despatching the resignation of his office as director or non-executive director thereof, in pursuance of clause (b) of sub-section (3); or (b) after the expiry of one year from the commencem....