Managing/Whole-time directors ‑ Managing director, as a director, retires and re‑elected ‑ Whether Government approval necessary - Companies Law - Letter : No. 8/16(1)/61‑PR,

Letter : No. 8/16(1)/61 ‑ PR, dated 9 ‑ 5 ‑ 1961. Subjects:- Managing/Whole-time directors ‑ Managing director, as a director, retires and re ‑ elected ‑ Whether Government approval necessary A managing director s office as managing director does not suffer any break if he retires as a director under section 255 and is re‑elected as a director in the same meeting. Hence, in such a case, the approval of the Government would not be necessary for five years where the terms of appointment of a managing director have already been approved by the Government for that period.