In terms of the provisions of the Companies Act, 2013, answer the following: Which companies are required to have independent directors ?
CS Executive · Company Law · PYQS · December 2015
In terms of the provisions of the Companies Act, 2013, answer the following: Which companies are required to have independent directors ?
Answer & Explanation:
Section 149(4) read with Rule 4 of Companies (Appointment and Qualification of Directors) Rules 2014, the following companies shall have Independent Director Every listed public company and every Public Company having paid up share capital of ten crore rupees or more; or Public Company having turnover of one hundred crore rupees or more; or Public Company which have, in aggregate, outstanding loans, debentures and deposits, exceeding fifty crore rupees.
Topics: Company Law
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