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An independent director is a non-executive director and thus a practising company secretary can be appointed as an independent director. A company secretary working in a company as an employee can also be appointed as an independent director in any other company.
May 9, 2020 · Section 149 of Companies Act 2013 deals with Appointment and Qualification of Directors. Same Section also contains Provisions related to Appointment of Independent Directors. 1. Applicability of Independent Directors (“IDs”): All Listed Companies; All Public Companies having; a. Turnover is Rs. 100 cr or more. b.
Nov 10, 2022 · An independent director (non-executive director) constitutes the category of directors who help the company in improving corporate credibility and governance standards. They play an important role in bringing transparency, accountability, and credibility to the firms .
Jan 14, 2020 · Independent Director: ‘independent director’ means an independent director referred to in sub-section (6) of section 149 (Annexure A of this Article). Applicability: 1. Listed Company. 2. the Public Companies having paid up share capital of ten crore rupees or more; or
Oct 5, 2022 · The 2013 Act specifies specific qualification standards for independent directors in addition to those outlined in the Listing Agreement. An independent director must be a subject matter expert with the necessary qualifications in the domains of finance, law, management, research, and corporate governance.
As per Rule 4 of the Companies (Appointment and Qualification of Directors) Rules, 2014, unlisted public companies are required to have at least two independent directors, if they meet any one of the following criteria1: Paid-up share capital of INR10 crore or more. Turnover of INR100 crore or more, or.
First Notes – 12 June 2014. Appointment and tenure of IDs it would be possible to appoint an ID for a period less than five years.
Aug 3, 2022 · Section 149 (4) of the Act provides that every listed public company shall have at least one-third of the total number of directors as independent directors and that the Central Government may prescribe a minimum number of independent directors for any other classes of public company.
All Independent directors are required to register themselves with the Databank within a period of 7 months effective from 1st December, 2019. Now the last date of registration for Independent Directors has been extended upto 30th June, 2020.
Mar 4, 2024 · Generally one who wishes to qualify as an Independent Director has to possess the following qualities: Impartiality. Loyalty. Decision- making (judgment) Professional repute. Appointment of Independent Director.
