Surya Pharma Ltd. is a listed company having 10 directors, 3 Executive Directors and promoters of the Company.One of the executive directors, Mr. P is also the Chairman of the Company.The company has 2 Non-Executive Wome
CS Professional · Corporate Funding & Listings in Stock Exchanges · PYQS · June 2025
Surya Pharma Ltd. is a listed company having 10 directors, 3 Executive Directors and promoters of the Company.One of the executive directors, Mr. P is also the Chairman of the Company.The company has 2 Non-Executive Women Directors who are related to Executive Directors and 5 Independent Directors.Mr. A an Independent Director wants to resign from the Company due to personal reasons.In the above context:Since Mr. A was also a member of Nomination and Remuneration Committee, can the Company appoint Mr. P in place of Mr. A in the Committee.
Answer & Explanation:
Regulation 19 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 provides that all directors of the Nomination and Remuneration Committees shall be non-executive directors. However, the chairperson of the listed entity, whether executive or non-executive, may be appointed as a member of the Nomination and Remuneration Committee and shall not chair such Committee. Therefore, Mr. P being the executive chairperson may be appointed as a member of Nomination and Remuneration Committee; however Mr. P shall not chair the Committee.
Topics: Listings in Stock Exchanges
Related Questions in this Topic
- What is the difference between the BdL market, which is an EU-regulated market, and the Euro MTF market, which is an exc...
- One of the measures of the principles of the corporate governance and protection of minority shareholder is "Equitable t...
- Rajesh, the promoter of the company had acquired 10000 equity shares of the company on 5th April, 2025, for a market pri...
- Explain the reasons for wide range of businesses joining Alternative Investment Market (AIM) of London Stock Exchange.
- List out the documents to be submitted to stock exchanges before T+5 days of closure of a public issue.