Live Course on Drafting of Appeal and Reply of Penalty Notice by CA Sachin Sinha. Register Now!!

Date of appointment of Independent Directors

Abhishek Sharma (Senior Assurance) (43 Points)

20 January 2018

exactly when are independent directors to be appointed when the limits of section 149(6) crossed?

Reply
Follow
Share

3 Replies

CS Smreti (cs) (641 Points)
Replied 20 January 2018

which limit u r referring to?

CS Aarti Jain (Professional) (4294 Points)
Replied 20 January 2018

Hi Abhishek,

Independent Directors are require to be appointed pursuant to section 149 (4) and Rule 4 of The Companies (Appointment and Qualification of Directors) Rules, 2014.

Section 149 (6) explains who can be an Independent Director but its requirement arises from above mentioned section.

Thanks...:)

Bhargav parekh (article) (98 Points)
Replied 21 January 2018

The Act has failed to expressly provide the exact time within which ID should be appointed if the prescribed limit is crossed.

However, as a matter of practice and logically, ID should be appointed in the BM immediately held after the time when the prescribed limits got crossed.