The following information is given : Name Status Paid-up Share Capital Annual Turnover Borrowings Sky Limited Listed 9 96 48 Earth Limited Unlisted 19 420 45 Water (Private) Ltd. Subsidiary of Earth Limited 4 112 27 Can
CS Executive · Company Law · PYQS · June 2023
The following information is given : Name Status Paid-up Share Capital Annual Turnover Borrowings Sky Limited Listed 9 96 48 Earth Limited Unlisted 19 420 45 Water (Private) Ltd. Subsidiary of Earth Limited 4 112 27 Can the Chairman of the company also chair the NRC?
Answer & Explanation:
Proviso to Section 178 states that the Chairman of the company may be appointed as a member of the committee but shall not chair the NRC. Hence the chairman of the company cannot be appointed as chairman of NRC. The Chairman of the NRC shall be an Independent Director.
Topics: Corporate Governance
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