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What is the time limit within which the Board has to appoint an Independent Director and at which meeting ........

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

What is the time limit within which the Board has to appoint an Independent Director and at which meeting whether Board Meeting or General Meeting?

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Section 149 of the Companies Act, 2013 states that every listed company shall have at least one-third of the total number of directors as Independent Directors and the Central Government may prescribe the minimum number of independent directors in case of any class or classes of public companies. Section 149(5) prescribes that every company existing on or before the commencement of the Companies Act, 2013 shall within one year from such commencement or from the date of notification of the rules in this regard as may be applicable, comply with the appointment of Independent Directors. As per Section 152(2), the appointment of independent director shall be approved by the company in the general meeting.

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Picsjoin 2017224123730582 answered

Hie Rohit, - Section 149(5) of the Companies Act, 2013 inter alia provides that company existing on or before the commencement of this Act, which are falling within the ambit of section 149(4), **shall have to appoint Independent Directors within one year from the commencement of Companies Act, 2013** or rules made in this behalf, as may be applicable. Further, as per Section 152(2) read with Schedule IV to the Companies Act, 2013, the appointment of the Independent Director shall be approved by the Company in its meeting of shareholders.

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Open uri20170510 32134 s5bvk0?1494421637 answered

Dear Friend, as far as your query is concerned that What is the time limit within which the Board has to appoint an Independent Director and at which meeting whether Board Meeting or General Meeting? Let me informed that Section 149(5) of the Companies Act, 2013 inter alia provides that company existing on or before the commencement of this Act, which are falling within the ambit of section 149(4), shall have to appoint Independent Directors within one year from the commencement of Companies Act, 2013 or rules made in this behalf, as may be applicable. Further, as per Section 152(2) read with Schedule IV to the Companies Act, 2013, the appointment of the Independent Director shall be approved by the Company in its meeting of shareholders. Hope answer was helpful to you Regards, Arjun Pratap Singh

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