Amar, one of the Independent directors of Ignite Colour Ltd., a listed company, intends to hold a meeting of Independent directors without inviting the Managing Director of the company. Is the action of the Independent d

According to the Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the independent directors of the listed entity must hold at least one meeting in a financial year without the presence of non-independent directors and members of the management. All Independent directors shall strive to be present at such meeting. In the given case the action of the Amar, Independent Director of Ignite Colour Ltd. is valid as the Managing Director was not invited.