how do we calculate 1/3rd or half of board for getting the number of independent director in the board?
if we have 4 executive director and 3 independent director and chairman is indepedent director.
so if we want to remove 1 independent director can we do that?
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Number of independent director
Replies (2)
Yes.we can but has to comply within time frame
Refer Regulation 16 & 17 of Sebi lodr ,which talks about Composition of BOD and criteria of i/d ,Here in given case 7 Directors are in board while chairman is non Executive and I/d ,Min no. of I/D required is 3( It's fulfilled) ,Once One I/D resigned /removed total no of directors are 6,and 1/3 is 2 ,So complying with Criteria hence no need to appoint any additional i/d ..
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