(1)A company may, by ordinary resolution, remove a Director (not being a Director appointed by the Central Government in pursuance of section 408) before the expiry of his period of office:Provided that this sub-section shall not, in the case of a private company, authorise the removal of a Director holding office for life on the 1st day of April, 1952, whether or not he is subject to retirement under an age limit by virtue of the articles or otherwise:Provided further that nothing contained in this sub-section shall apply where the company has availed itself of the option given to it under section 265 to appoint not less than two-thirds of the total number of Directors according to the principle of proportional representation.
