Additional Director
This query is : Resolved
02 May 2009
Can additional Director be treated as Independent Director. What is the actual status of additional Director.
03 May 2009
Yes, you can very much treat Additional Director as an Independent Director.
Even this is allowed as per clause-49 calculations of Listing Agreements.
Additional Director is appointed by the Board of Directors u/s 260 of the Companies Act, 1956. He is a normal member of Board of Directors with all the powers of Board.
Only point is that this director is to hold office only up to the date of next AGM.
But in next AGM such Additional Director can be appointed as a regular director by following the procedure prescribed by Section-257.
Hope i am able to bring some clarity. Please revert for further query.
Best Regards
Ankur Garg
Even this is allowed as per clause-49 calculations of Listing Agreements.
Additional Director is appointed by the Board of Directors u/s 260 of the Companies Act, 1956. He is a normal member of Board of Directors with all the powers of Board.
Only point is that this director is to hold office only up to the date of next AGM.
But in next AGM such Additional Director can be appointed as a regular director by following the procedure prescribed by Section-257.
Hope i am able to bring some clarity. Please revert for further query.
Best Regards
Ankur Garg
Message likes :
1 times
03 May 2009
Thanks Ankur....
31 July 2015
You are always welcome dear friend and I would suggest you to keep sharing your doubts through the platform of Caclubindia for relevant answers from learned experts.
Thanks
Ankur Garg
Thanks
Ankur Garg
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