As per the definition of NON-EXECUTIVE DIRECTOR in the Companies Act,1956 a person who is not an employee or excutive of the Company or not related to the Company is a Non-Executive Director or OUTSIDE DIRECTOR.
On the above footings, my question is whether a PROMOTER DIRETOR can be a NON-EXECUTIVE DIRECTOR??
And if he can, whether he can be the Chairman of the Shareholder Grievance Committee as per Clause 49 of the Listing Agreement??
Please advise.
CAclubindia
