Minimum Number of Independedent director
This query is : Resolved
CA. Mala Rohara
(Querist)
21 November 2009
What is the minimum number of independent directors in a listed company?
Jagruti (CS)
(Expert)
21 November 2009
It depends upon Chairman, as per Clause 49 (I)A,
ii. Where the Chairman of the Board is a non-executive director, at least one-third of the Board should comprise of independent directors and in case he is an executive director, at least half of the Board should comprise of independent directors.
Provided that where the non-executive Chairman is a promoter of the company or is related to any promoter or person occupying management positions at the Board level or at one level below the Board, at least one-half of the Board of the company shall consist of independent directors.
ii. Where the Chairman of the Board is a non-executive director, at least one-third of the Board should comprise of independent directors and in case he is an executive director, at least half of the Board should comprise of independent directors.
Provided that where the non-executive Chairman is a promoter of the company or is related to any promoter or person occupying management positions at the Board level or at one level below the Board, at least one-half of the Board of the company shall consist of independent directors.
CS Vandana Kacholia
(Expert)
21 November 2009
agree clause 49 of listing agreement.
Ankur Garg
(Expert)
21 November 2009
Agree
CA Ravi Sisodia
(Expert)
21 November 2009
Agree
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