Legal Question in Business Law in India
in companies act 1956,section 270 say that director hold share within 2 month of his appointment.but he applied share within 2 month,but he allotes share after 2 month.so why the director vacate from office.?there is no fault of director but company has make some wrong and he is not allot share .so can you please give me answer why director vacate from office .??there is no mistake of director but mistake of company.
Asked on 12/29/11, 3:10 am
1 Answer from Attorneys
Aniruddha Pawse
Aniruddha.P.Pawse Advocates
no if the director applies for share within 2 months his duty is over.
Answered on 1/06/12, 2:13 am
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