"The Independent Directors of the company shall hold at least one meeting in a financial year without the attendance of non-independent director and member of management." Discuss the statement and also mention the agend

CS Professional · Governance, Risk Management, Compliances and Ethics · PYQS · December 2022
"The Independent Directors of the company shall hold at least one meeting in a financial year without the attendance of non-independent director and member of management." Discuss the statement and also mention the agenda items to be taken upon such a meeting as per the relevant provisions of SEBI (LODR), Regulations, 2015.

Answer & Explanation:

The independent directors of the company shall hold at least one meeting in a financial year, without the attendance of non-independent directors and members of management; All the independent directors of the company shall strive to be present at such meeting; The meeting shall: (a) review the performance of non-independent directors and the Board as a whole; (b) review the performance of the Chairperson of the company, taking into account the views of executive directors and non-executive directors; (c) assess the quality, quantity and timeliness of flow of information between the company management and the Board that is necessary for the Board to effectively and reasonably perform their duties.

Topics: SEBI (LODR) Regulations, 2015

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