HP Ltd., a Non-Government unlisted company, have paid up share capital of ₹20 crores as on 31st March, 2019, it was increased to ₹25 crores during the financial year 2019-20. The company secretary advised that the compan
CS Professional · Governance, Risk Management, Compliances and Ethics · PYQS · December 2021
HP Ltd., a Non-Government unlisted company, have paid up share capital of ₹20 crores as on 31st March, 2019, it was increased to ₹25 crores during the financial year 2019-20. The company secretary advised that the company should have formal annual evaluation of performance of the Board, its committees and all the individual directors. Answer the following questions with reasons: (ii) Whether the annual performance evaluation is mandatory based on the provided facts ?
Answer & Explanation:
As per the provided facts, HP Ltd. is a Non-Government, public, unlisted company having paid up share capital of ₹ 25 crores in the preceding financial year (2019-20), thus the annual performance evaluation is mandatory in the Financial year 2020-21 in this case.
Topics: Board Evaluation
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