Ankit
(CA, CS)
(3064 Points)
Replied 14 August 2013
But Shilpa,
The Clause 49 you are talking about is a part of the Listing Agreement. In your query, you have mentioned only Public Company hence I suppose it is not a listed company. And, if it is not so, the Listing agreement and clause 49 shall not apply.
Yes. You are right…you will have to have 2:1 ratio of Non ED and ED. So, as I mentioned earlier, either you could bring down the ED to 2. Or, you could increase the total directors to meet the requirement.
Shilpa
(CS Management Trainee)
(48 Points)
Replied 14 August 2013
Ankit,
Our company is listed Company.
Anyways,Thanks for resolving my queries. 
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