Appointment of Independent Directors
The Government has said that the Companies Act, 1956 does not provide for appointment of Independent Directors. But, as per clause 49 of the Listing Agreement, all the listed companies are required to appoint Independent Directors. Giving this information in written reply to a question in the Lok Sabha today, the Minsiter for Corporate Affairs, Shri Salman Khurshid told the House that as per the information received from Securities Exchange Board of India (SEBI), there are 83 companies listed in BSE and 47 companies listed in NSE which have not fully complied with clause 49 of the Listing Agreement.
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