RJS Ltd. is in the list of top 500 listed entities. P is a non-executive chairman of the company. Q, R & T are the promoters of the company. P is related to the one of the promoter T. A is the only woman director (ex

CS Executive · Securities Laws and Capital Markets · PYQS · June 2023
RJS Ltd. is in the list of top 500 listed entities. P is a non-executive chairman of the company. Q, R & T are the promoters of the company. P is related to the one of the promoter T. A is the only woman director (executive director) in the Board. Further, the company is planning to appoint C (aged 70 years) as a non-executive director. Answer the following with reference to the SEBI (LODR) Regulations, 2015: Whether the appointment of C is valid ?

Answer & Explanation:

Validity of Appointment: Yes, the appointment of C is valid. Reason: As per Regulation 17(1A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a person shall not be appointed as a non-executive director if he has attained the age of seventy-five years. However, such a person may be appointed by passing a special resolution. In the given case, C is aged 70 years, which is below the age of seventy-five years. Therefore, the appointment of C as a non-executive director is valid without requiring a special resolution based on age criteria alone.

Topics: SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR)

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