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The Companies Act, 1956

Title : The Companies Act, 1956

Year : 1956

Sec252    -    Minimum number of directors.

    (1) Every public company (other than a public company which has become such by virtue of Section 43A), shall have at least three directors.

    Provided that a public company having, —

    (a)

    a paid-up capital of five crore rupees or more;

     (b) 

    one thousand or more small shareholders,

    may have a director elected by such small shareholders in the manner as may be prescribed.

     

    Explanation : For the purposes of this sub-section “small shareholders” means a shareholder holding shares of nominal value of twenty thousand rupees or less in a public company to which this section applies.

     
    (2) Every other company shall have at least two directors.

    (3) The directors of a company collectively are referred to in this Act as the "Board of directors" or "Board".


Last updated on May, 2015

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