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Sec 149(4) requires every listed public company to have one-third of the total number of directors as independent directors. F or calculating this no, should nominee directors appointed by banks/ financial institutions,be included in the total strength of the Board. Please clarify with relevant sections/ rules.

Section 149- Company to have Board of directors.

Posted By: Radha 8 year(s) ago

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AKILA

There is no specific definition for total number of directors under the Act. But the explanation for Section 152 for total no of directors for computing retire by rotation. Hence there is no specific rule is given we can better consider the explanation for ID appointment too. Its no need to consider nominee directors.

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