nominee director
This query is : Resolved
Aakruti Vora
(Querist)
26 June 2017
Is nominee director treated as independent director? & what the tenure of holding office as a nominee director?
Aswath Raman
(Expert)
26 June 2017
Hi Aakruti!
A nominee director is appointed to protect the interest of the institution which appointed him. Hence, he is interested and therefore will not be taken as an independent director. Usually, the nominee directors are not subject to retire by rotation hence the tenure is unspecific.
A nominee director is appointed to protect the interest of the institution which appointed him. Hence, he is interested and therefore will not be taken as an independent director. Usually, the nominee directors are not subject to retire by rotation hence the tenure is unspecific.
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