Hi,
Small Shareholder means -Shareholders holding shares of nominal value of Rs.20000/- or less. (pl .correct me if am wrong)
and AS PER SECTION- 252 those public companies which are having ---1) Paid up capital of Rs.5.00 crore or more ---2) 1000 or more small shareholders
Have to appoint a director as per The Companies (Appointment of the Small Shareholders Director) Rules, 2001
My query is if any public company fulfilling both above requirement have to mandatorily follow above rule for director or it is optional .?
pls suggest
CAclubindia
