independent Director

Hi,

Pls clarify my doubts.

My MD has two companies x and y (Pvt ltd) . He is a director and shareholder of both companies. then Mr. Z is a director and shareholder of Y com. (not relative) Both are not subsidiary companies.

Now, x com. to be converted into public com. (to be listed) can Mr. Z appoint as a indendent director in X com? is there any violation of listing agreement?

Kindly suggest .

C.J. Sreedevi