Remuneration Committee

Dear all

Our JV  unlisted Company (45% Indian Stake and 55% foreign stake) wants to appoint a WTD in terms of Schedule XIII. On of the requirement is to constitute a remuneration committee consisting of at least three non executive independent directors. The JV Company currently has 4 directors.Two  directors are nominated by each JV partner. Whether the JV Company can constitute remuneration committee? the two directors from each side can be considered independent as they are representative of the JV partners also being employees/ directors of the JV Partners.

Please advice.

Thanks

Preeti Gandhi