Q & A

1390 Views 1 Ans

Unlisted Public Company whose turnover exceeds 100 crores. Board consist of 6 directors Chairman and Managing Director -1 Whole Time executive Directors - 3 Independent - None-executive directors -2 to constitute Nomination and Remuneration Committee under section 178 at lease three non-executive directors are required. ( company has 4 executive director and 2 non-executive independent directors) However proviso to section says chairperson of the Company (whether executive or non-executive) can be appointed as member. If company constitute Remuneration committee as under 1. Chairman of the Company- (Executive Director)- he will not chair committee 2. Independent directors ( Non-Executive Directors) - Two whether it will be Validly constituted committee Mahesh Bhavsar

Section 178- Nomination and remuneration committee and stakholders relationship committee.

Posted By: Mahesh bhavsar 8 year(s) ago

This question has been closed if you want to answer,you have to re-open.

Shivam Singhal

No, Required to appoint 1 non-executive director in the Board and NR Committee. after that, your NR Committee consists= 3 Non-executive directors (out of which 2 will be Independent directors which also comply with the sub-section (1) of Section 178) and 1 CMD (which shall not chair the Committee)

Comment
Comment (0)

Recently Active Member

Pramod Prabhudesai
B D Jokhakar & Co

Post Your Question

My Q&A

Experts

Ankit Singhi

Deepti Vohra

Popular Tags

DEPOSITS

DISCLOSURES IN MBP-1

Consolidation of accounts

AGM

Preferential basis allotment of shares

PRIVATE PLACEMENT

Amendment of Articles of Association

CLOSURE

Consolidation of Financial Statements and filing to ROC

CSR

View All

Topic

Implementation of new law

View All

Sections

Section 185- Loan to directors, etc.

Section 161- Appointment of additional director, alternate director and nominee director.

Section 205- Functions of the Company Secretary.

Section 3- Formation of company.

Section 173- Meetings of Board.

View All

About Q&A

Q & A is a unique platform to get your answers. You can create questions by topics or sections for easy identification of your query . You get various alerts to keep you connected and can also search your query.

So keep posting and stay connected

Companies Act 2013/1956

Decoding the New Act

Resource Center

My Section

Information Cafe

Calculators

Connect with us on facebook

Connect with us on Linkedin

Follow on Twitter

Payment Options Available

COPYRIGHT NOTICE: All information and material posted in this website (including but not limited to text, audio, video or graphical images), are subject to copyrights owned by Corporate Professionals eSolutions Private Limited, its affiliates and associates. Any reproduction, retransmission, republication, or other use of all or part of this document is expressly prohibited, unless prior permission has been granted by Corporate Professionals eSolutions Private Limited. All other rights reserved.

Scroll