With reference to notification dated July 5, 2017 it says Joint Venture, Wholly Owned Subsidiary and Dormant companies need not appoint an Independent Director.
Regulation 24 of LODR says atleast one ID of listed entity must be ID of material subsidy. If material subsidiary is wholly owned then should we appoint ID?
Also according to section 177 & 178, Audit committee and NRC should have majority or 50% ID on meeting criteria. What if that is a wholly owned subsidiary.
Please help.
Menu
Independent Director
Replies (1)
Independent director should be become board member of material India subsidiary company. Not as an independent director..
Recent Topics :
- Practical queries on buy back of shares
- Any faculty recommendations for latest batch recor
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
Related Topics :
CAclubindia
