Appointment of alternate director by independent director
This query is : Resolved
Shanmuga Priya
(Querist)
08 January 2011
Company X is a holding listed co., It is mandatory for appointment of its independednt director in its subsidiary co., The independent director desires to appoint an alternate director for him
Now the query is
Should the alternate director so appointed should also be an independent director. Any mandatory rule for that.
Pl clarify.
Now the query is
Should the alternate director so appointed should also be an independent director. Any mandatory rule for that.
Pl clarify.
udit sharma
(Expert)
08 January 2011
Hi...
Clause 49(III) of the Listing Agreement provides for the appointement of One Independent Director on the Board of Directors of Listed Holding Company on the Board of material unlisted Indian subsidiary.
When an Independent Director is so appointed, his alternate must also be an Independent Director...
Regards
CS Udit Sharma
Clause 49(III) of the Listing Agreement provides for the appointement of One Independent Director on the Board of Directors of Listed Holding Company on the Board of material unlisted Indian subsidiary.
When an Independent Director is so appointed, his alternate must also be an Independent Director...
Regards
CS Udit Sharma
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