Under Companies Act 2013, Following class of public companies shall have at least 2
Independent Directors:
? Public company having paid?up share capital of Rs. 10 Crore or
more;
? Public company having turnover of Rs. 100 Crore or more;
? Public company having aggregate outstanding loan,
debentures and deposits exceeding Rs. 50 Crore.
In case of Private Comp[any which is WOS of limited Company that comp[any also need to be appoint the Independent Director in the Board ?
Hello Members
Can we register a normal director for the independent Director course ?
course
director
independent
Dear Members,
An auditor of one company can be an independent director of another company, if the promoters are the same in both the companies.
Please clarify
director
independent
Dear Members,
Please share your views on below stated query wrt to Listed Company-
If an independent director was appointed on 16th May, 2017 subject to shareholders approval in AGM held on 30th September, 2017.
Her first term of 5 years expires in May, 2022 whereas the AGM is generally held in the month of September.
My query is when and how shall we re-appoint her for her next tenure in order to comply with the Companies Act and SEBI (LODR) Regulations so that our composition of BOD is not disturbed.
director
independent
tenure
related
query
Dear Members,
The amendments made in Schedule III are applicable from April 01,2021. So, do we have to prepare financials for FY 2020-21 in accordance with the said schedule or it's commencing from FY 2021-22?
Also please let me know if there are any changes in the Independent Audit Report for FY 2020-21?
Dear Members,
The amendments made in Schedule III are applicable from April 01,2021. So, do we have to prepare financials for FY 2020-21 in accordance with the said schedule or it's commencing from FY 2021-22?
Also please let me know if there are any changes in the Independent Audit Report for FY 2020-21?
Dear friends,
ABC public company has an independent director by name ID.
XYZ also public company wants to appoint same independent director ID for their company.
The Promoters are common in both the companies. Also ABC is an associate company for XYZ company.
ID is an unrelated person to both the companies. There is no pecuniary relationship with the company apart from getting sitting fees and fixed annual commission.
Is it ok to appoint ID in XYZ limited?
I seek your views on this.
companies
group
director
independent
appointment
Dear friends,
ABC public company has an independent director by name ID.
XYZ also public company wants to appoint same independent director ID for their company.
The Promoters are common in both the companies. Also ABC is an associate company for XYZ company.
ID is an unrelated person to both the companies. There is no pecuniary relationship with the company apart from getting sitting fees and fixed annual commission.
Is it ok to appoint ID in XYZ limited?
I seek your views on this.
companies
group
director
independent
appointment
Dear Members,
The Independent Director failed to register on the Independent Directors Databank as on 31/12/2020 which was the last day to register.
Now they have received email to give declaration that they were not serving as an Independent Director in any Public Company as on 1st December 2019 which they cannot be given.
What is the solution so that they can now register themselves?
Please help. Thank you in advance.
query
databank
director
independent
Dear Members,
Can CS of a company attend the Independent directors meeting of that company to assist them..
meeting
directors
independent
Dear Professionals,
- As you are aware that, exemption and passing criteria w.r.t. proficiency test to become Independent Director (ID) has been recently amended by Ministry. The amendment, by way of relaxation, mainly brought in criteria to be ID without passing proficiency test and in criteria to pass the proficiency test.
- To understand the above amendment with its impact and to resolve various queries raised from many professionals, please refer to an Interpretative Analysis through following link:
https://lnkd.in/egc6h-A
independent
director
test
exemptions
various
update
If an independent director to be appointed by limited company ,
a) Is it necessary to get him registered in independent director databank before his appointment;
b) he will have to pass test within one year of his appointment.
director
independent
