01 June 2011
An unlisted Public Company has a subsidiary which is listed. If an independent Non Executive director of the Holding company is nominated as a director in the Subsidiary Company (Listed) will he be considered as an Independent Director in the subsidiary too?
02 June 2011
Depends...if he passes all the 7 tests specified by way of definition of Independent Director under Clause 49(I) ofthe Listing Agreement, he will be considered as Independent....
CAclubindia
