Fresh Election Of Directors Flashcards
1
Q
Fresh election
A
Fresh Election of Directors
A person who acquires the required shareholding can demand a fresh election to join the company’s board of directors. However, the number of directors already fixed cannot be reduced.
Time Limit and Procedure
The board must hold a fresh election within 30 days of receiving the requisition. For listed companies, the procedure for fresh elections will be outlined by the Commission ¹.
Key Points
- A person with the requisite shareholding can demand a fresh election
- The number of directors cannot be decreased
- Fresh election must be held within 30 days
- Listed companies must follow the Commission’s procedure
