Does Section 260 of the Indian Companies Act 1956 override the provisions of Article 36 in the private limited company's Articles of Association, which stipulate that a director shall not be subject to retirement unless they do so voluntarily?
During a takeover the Managing Director was appointed under Article 36 of AOA in 1996, through a board resolution. However, in the Form 32 filed with the ROC, he was listed as a 'Managing Director' in the "Names" section but defined as an 'Additional Director' under the "Brief particulars of changes" section.
So does he cease to hold office under section 260 if no AGM was held between 1997 to 2006 as the company had ceased operations?
