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 What
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 What is the quorum and number of meetings of NRC in a financial year?
Answer & Explanation:
The quorum for NRC is as specified by the Board. Where no quorum is specified in the Articles, all the members of NRC shall be quorum as per para 3.5 of SS-1. According to SEBI LODR Regulations, quorum for NRC meeting shall be either two members or one third of the members of the Committee, whichever is greater, including at least one Independent Director in attendance. SEBI LODR Regulations stipulates at least 1 NRC meeting in a year.
Topics: Corporate Governance
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