Generally, Articles of Association of a Company provides clear provision regarding the selection/election of the Chairman of the Board of directors with specific tenure to preside over the Shareholders meeting i.e. AGM, EGM etc. as well as meeting of the Board of Directors.
Schedule –I of the Companies Act 1994.
Regulation 54 of the Schedule I; “The
Board of Directors shall elect one of their members as its Chairman who shall
preside at every general meeting of the Company”
Provided that the Chairman and the
Managing Director shall not be the same person.
Regulation of the Schedule I; “The Directors shall determine the period for which the Chairman shall hold office”
Apart
from the above provisions, multiple sections of the Act and Articles of ….
Company provide reference regarding the position of the Chairman.
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