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Independent Director

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Total Questions25

Independent Director

3

Answer

Company “A” Limited has appointed as an additional director to fulfill the requirement of number of Independent Directors as requi Read More
Company “A” Limited has appointed as an additional director to fulfill the requirement of number of Independent Directors as required under the Companies Act, 2013 and listing agreement with Stock Exchanges. The appointment of said additional director would be approved as an Independent Director in the next Annual General Meeting of the Company as required under section 150(2) of the Companies Act, 2013. In this connection the following queries are to be considered :- i) What will be the category of additional director for the intervening period i.e. from the date of appointment as an additional director till the next Annual General Meeting whether he will be independent or professional; ii) Whether the Board has power to appoint independent director and accordingly whether we can categorize such additional director as independent director in the Form DIR12 to be filed on appointment of directors; iii) If such additional director is to be treated as an independent director from the date of which he was appointed as an additional director then whether the intervening period from the date of appointment as an additional director till the next general meeting of the Company would be counted for the purpose of two terms of upto five consecutive years each as mentioned in Section 149(10) of the Companies Act, 2013.

Views (1744)
Posted By: Amish 10 year(s) ago

3

Answer

Please refer to the rules related to the appointment of an Independent Director i.e.Rule No. 4 of The Companies (Appointment and Q Read More
Please refer to the rules related to the appointment of an Independent Director i.e.Rule No. 4 of The Companies (Appointment and Qualification of Directors) Rules, 2014 the proviso provided that any intermittent vacancy of an ID shall be filled-up not later than immediate BM or 3 months from the date of such vacancy, whichever is later. Now if we got to Schedule IV ("Code for Independent Director") VI. Resignation and removal: Point 2. it has been provided that the ID vacancy shall be filled up within 180 days from the date of removal or such resignation. Please clarify within how many days the vacancy of ID should be filled-up

Views (2075)
Posted By: Pradeep chugh 10 year(s) ago

3

Answer

Can an Independent Director be appointed by the Board as Additional Director under Sec 161 of the Act. Also can this appointment b Read More
Can an Independent Director be appointed by the Board as Additional Director under Sec 161 of the Act. Also can this appointment be regularised at the next ensuing AGM?

Views (3076)
Posted By: Shiv kumaran 9 year(s) ago

2

Answer

The code of conduct for Independent Director prescribes for holding of meeting of Independent Directors every year. Who is respon Read More
The code of conduct for Independent Director prescribes for holding of meeting of Independent Directors every year. Who is responsible to call the meeting and what would be the role of Company in this meeting?

Views (2331)
Posted By: Anjali 11 year(s) ago

2

Answer

Dear Sir Sub-section 6 of the Section 149 of Comapnies Act 2013 provides for meaning of idependent Director and cluse (c) & (d) o Read More
Dear Sir Sub-section 6 of the Section 149 of Comapnies Act 2013 provides for meaning of idependent Director and cluse (c) & (d) of sub-section 6 of section 149 of Co. Act, 2013 provides that Indednepent Director or his relaives has or had no pecuniary relationship or transaction with Company, its holding, subsidiay or associate company etc. Please explain the meaning of "Pecuniary Relationship" and "pecuniary transactions"

Views (2318)
Posted By: Vasant patel 9 year(s) ago

2

Answer

whether an existing non executive director fulfilling all other condition of sec 149 CA 2013 can be appointed as independent direc Read More
whether an existing non executive director fulfilling all other condition of sec 149 CA 2013 can be appointed as independent director of the company.

Views (2016)
Posted By: Ashutosh 9 year(s) ago

1

Answer

Our Company is a private Company, subsidiary of Public Company having paid up share capital of more than 10 crore. Kindly let me k Read More
Our Company is a private Company, subsidiary of Public Company having paid up share capital of more than 10 crore. Kindly let me know is appointment of Independent Director is applicable on it.

Views (2138)
Posted By: Haryana 9 year(s) ago

1

Answer

Has the new Companies Act /Rules prescribed any format of Appointment Letter for Independent Directors ? Read More
Has the new Companies Act /Rules prescribed any format of Appointment Letter for Independent Directors ?

Views (2328)
Posted By: Meenakshi sharma 10 year(s) ago

1

Answer

Is it required to re-appoint independent directors on the Board of a Listed company as per Companies Act, 2013 for the purpose of Read More
Is it required to re-appoint independent directors on the Board of a Listed company as per Companies Act, 2013 for the purpose of Formation of various committees in which independent directors were already appointed as per Companies Act, 1956? kindly suggest.

Views (1869)
Posted By: Mitesh 10 year(s) ago

1

Answer

Will the reappointment of Independent Director be as per ordinary or special resolution in the AGM of a listed Company? Read More
Will the reappointment of Independent Director be as per ordinary or special resolution in the AGM of a listed Company?

Views (1574)
Posted By: Rajesh agrawal 10 year(s) ago

1

Answer

Can the Company bear the travelling expenses of the Independent Directors for attending the general meeting of the company. Please Read More
Can the Company bear the travelling expenses of the Independent Directors for attending the general meeting of the company. Please highlight the relevant provision for or against.

Views (1802)
Posted By: Arun kumar 10 year(s) ago

1

Answer

Regarding appointment of Independent Director under section 149 (4) of Co. Act 2013 read with Rules 4 of The Companies (Appointme Read More
Regarding appointment of Independent Director under section 149 (4) of Co. Act 2013 read with Rules 4 of The Companies (Appointment & Qualification of Directors) Rules, 2014 provides that the following class or classes of companies shall have latest two Directors as independent Directors on the Board of Directors of the Company (iii) a public company which have, in aggregate of, outstanding Loans, debentures and deposits, exceeding fifty crores rupees In this regard please clarify the following : 01. What is meaning of “Outstanding loans” i.e. both short term and long term loans both or Else ? 02. For the purpose of this rules it is stated that, the paid up share capital or turnover or outstanding loans, debentures and deposits, as the case may be as existing on the last date of latest audited financial statements shall be taken into account then : Please clarify which date i. e. date of balance-sheet as on 31st March or date of signing of Balance-sheet of that year ?

Views (2505)
Posted By: Vasant patel 10 year(s) ago

1

Answer

For appointment of Independent Directors and Non executive woman director is form MR-1 required to be filed as within the form the Read More
For appointment of Independent Directors and Non executive woman director is form MR-1 required to be filed as within the form there is no such option available. And if yes then under what head i.e. WTD?

Views (2525)
Posted By: Rajesh agrawal 10 year(s) ago

1

Answer

What is the procedure to appoint an Independent Director? We understand Recommendation by BOD and approval by Shareholders is requ Read More
What is the procedure to appoint an Independent Director? We understand Recommendation by BOD and approval by Shareholders is required. Is it possible to appoint Ind. Director in Board meeting December 2014 and get approval of Shareholders in next AGM ie September, 2015. Or Is it required approval of Shareholders in EGM upto March 2015. Please clarify.

Views (2095)
Posted By: Sunil kumar agrawal 10 year(s) ago

1

Answer

Whether a director appointed as an independent director voluntarily by a Private Limited Company need to comply with 'Code for Ind Read More
Whether a director appointed as an independent director voluntarily by a Private Limited Company need to comply with 'Code for Independent Directors' stipulated in Schedule IV of the Companies Act, 2013? Also, will all other provisions of Companies Act, 2013 applicable to an Independent Director apply as it is to the Director appointed voluntarily as an Independent Director in Pvt. Ltd. Co.?

Views (1929)
Posted By: Ajith 9 year(s) ago

1

Answer

What should be the agenda for the separate meeting of independent directors as mentioned in Schedule IV - Code for independent dir Read More
What should be the agenda for the separate meeting of independent directors as mentioned in Schedule IV - Code for independent directors - Clause VII?

Views (2108)
Posted By: Joy kumar jain 9 year(s) ago

1

Answer

Dear Experts, Kindly tell me what E Forms are required to be filed for appointment of Independent Director. Thanks advance. Read More
Dear Experts, Kindly tell me what E Forms are required to be filed for appointment of Independent Director. Thanks advance.

Views (2417)
Posted By: Pooja garg 9 year(s) ago

1

Answer

If the appointment of an existing ID is not renewed by the EGM before 31st march 2015 whether he is ceased from post of Director Read More
If the appointment of an existing ID is not renewed by the EGM before 31st march 2015 whether he is ceased from post of Director itself on 01.04.2015 or he will continue as non executive director and only his Independent Directorship ceased.

Views (1955)
Posted By: Sandeep 9 year(s) ago

1

Answer

Can a Company make an payment of sitting fees to firm in which the Independent Director of the company is a partner? Prompt re Read More
Can a Company make an payment of sitting fees to firm in which the Independent Director of the company is a partner? Prompt response with reference of particular section of Companies Act, 2013 will highly appreciate.

Views (1921)
Posted By: Pritesh gangwal 9 year(s) ago

1

Answer

From which date, the tenure of the Independent Director start ie from the date of Board Resolution or the shareholders Resolution Read More
From which date, the tenure of the Independent Director start ie from the date of Board Resolution or the shareholders Resolution ?

Views (1800)
Posted By: Ranjal laxmana shenoy 9 year(s) ago

1

Answer

From which date, the tenure of the Independent Director start ie from the date of Board Resolution or the shareholders Resolution Read More
From which date, the tenure of the Independent Director start ie from the date of Board Resolution or the shareholders Resolution ?

Views (2078)
Posted By: Ranjal laxmana shenoy 9 year(s) ago

1

Answer

Dear sir, Do we need to file DIR-12 in case of extending the term of independent director for further 5 years. Read More
Dear sir, Do we need to file DIR-12 in case of extending the term of independent director for further 5 years.

Views (1768)
Posted By: Bunny sehgal 8 year(s) ago

1

Answer

If independent director incurred disqualification, then what will be the impact on Director as well as on Company? What will be th Read More
If independent director incurred disqualification, then what will be the impact on Director as well as on Company? What will be the procedure of conversion from ID to normal non executive director? Is there requirement of filing of any eform with the ROC or any other authorities?

Views (1417)
Posted By: Amod kumar jha 8 year(s) ago

0

Answer

In a 100% State Government Company, all Directors are appointed by the State Government. Apart from full time Directors they are Read More
In a 100% State Government Company, all Directors are appointed by the State Government. Apart from full time Directors they are also appointing Non Whole Time Directors (NWTD) from other Companies in the same sector, for constituting Audit Committee (under old Act). Can these NWTDs now be re-designated as Independent Directors, pursuant to the exemptions given for 149(6)(a) and 149(6)(c).

Views (2075)
Posted By: Vithal kumar pingali 9 year(s) ago

0

Answer

Please clarify - Can a Public Limited closely held company appoint two brothers as 2 Independent Directors of the company as per S Read More
Please clarify - Can a Public Limited closely held company appoint two brothers as 2 Independent Directors of the company as per Section 149 (4) of The Companies Act, 2013 and applicable rules? The Company turnover is more than Rs. 100.0 Crores.

Views (1820)
Posted By: Sunil kumar agrawal 9 year(s) ago

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