Whether retiring directors cease to hold office on and from date of annual general meeting

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....ssociation of a company provided, inter alia that "at the first ordinary general meeting of the company, the whole of the directors, excepting ex officio directors, shall retire from office, and at the ordinary general meeting in every year, one-third of the directors (other than the ex officio directors), for the time being, or if their number is not three or a multiple of three, then the number ....

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....gard to the provisions of section 256(1) read with section 225(2) of the Companies Act, 1956. Though the language used in the latter mentioned sections is slightly different from that contained in regulation 78 of Table 'A' of Schedule I to the Companies Act, 1913, so as to permit of a different interpretation, the Department is of the view that under section 256, it cannot be contended that all t....