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Director in wos

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(Querist)
18 December 2013 In case of a Wholly Owned Subsidiary Company, is it necessary to have any director of the listed parent company on the Board of the subsidiary(if it is not a material non listed Indian subsidiary as per clause 49 of listing agreement)?
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Ajay Mishra

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Ajay Mishra (Expert)
18 December 2013 Then not necessary.

Clause 49 is talking about appointment of Independent director appointment in subsidiary.

But in your case it is not applicable because it is not material.
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SATABDI SEN GUPTA

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SATABDI SEN GUPTA (Querist)
18 December 2013 Is there any other requirement in Companies Act relating to the same (ie, WOS must have 1 director common with Parent company)?
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Ajay Mishra

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Ajay Mishra (Expert)
18 December 2013 No not required under the Companies Act, 1956. You check your company's article on it.
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SATABDI SEN GUPTA

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SATABDI SEN GUPTA (Querist)
18 December 2013 Thank you.
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