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Appointment of MD

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 December 2010 As per Sch. XIII, the Remuneration committee shall consist of 3 Non-Executive independent directors...however, my co. has only 2 of them...how should i proceed..do i need to include 1 more person....or is there any other way...pls. reply
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Ankur Garg

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Ankur Garg (Expert)
21 December 2010 Hi,

Sch XIII is applicable only on a public company.

In your case there is no escape route and you have to increase the strength of your Board by appointing one more director.

Regards
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Ajay Mishra

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Ajay Mishra (Expert)
22 December 2010 Agreed with Mr. Ankur Sir............
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Querist : Anonymous

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Querist : Anonymous (Querist)
22 December 2010 ok..i will do that...thanks for the reply

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