0
0
Answer Now
Comment
Report
3
Answers
Subject to the provisions of Section 152 of the Companies Act, 2013, an independent director shall hold office for a term up to five consecutive years on the Board of a company.
Such independent director is eligible for reappointment for another term of five years. But such reappointment shall take effect only on passing of a special resolution by the company and disclosure of such appointment in the Board's report. Further, no independent director shall hold office for more than two consecutive term.
Important Note โ Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures โ online & in Pen Drive/ DVD โ at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below โ
For any questions Request A Call Back
Hie Rohit,
- As per the provisions of section 149 (10), an independent director shall hold office for a term up to five consecutive years on the Board of a company, but shall be eligible for reappointment on passing of a special resolution by the company and disclosure of such appointment in the Board's report.
Dear Friend,
as far as your query is concerned that In case of Re-appointment of independent director for second term, whether ordinary or special resolution is required.
Let me informed that As per the provisions of section 149 (10), an independent
director shall hold office for a term up to five consecutive years
on the Board of a company, but shall be eligible for
reappointment on passing of a special resolution by the
company and disclosure of such appointment in the Board's
report.
Hope answer was helpful to you
Regards,
Arjun Pratap Singh