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Question
An independent director is referred to in sub-section (6) of section ______ of the Companies Act, 2013.
An independent director is referred to in sub-section (6) of section ______ of the Companies Act, 2013.
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Solution
The correct option is A 149
As per sub section 4 of Section 149 of the Companies Act 2013, every listed public company is mandatorily required to have at least one-third of the total number of directors as independent directors. Unlisted public companies must appoint at least two independent directors in the following circumstances. Section 149(6), independent director has been referred to as a director other than a managing director or a whole-time director or a nominee director.
As per sub section 4 of Section 149 of the Companies Act 2013, every listed public company is mandatorily required to have at least one-third of the total number of directors as independent directors. Unlisted public companies must appoint at least two independent directors in the following circumstances. Section 149(6), independent director has been referred to as a director other than a managing director or a whole-time director or a nominee director.
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