Clause 49 listing agreement remuneration committee

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shubham (Querist)
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31 August 2014 Respected experts kindly help me in this regard. clause 49 of listing agreement prescribes that formation of remuneration committee is non mandatory. so if a company voluntary forms remuneration committee can its chairman be non independent director as against independent director as required by clause 49.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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01 September 2014 Even If company forms remuneration committee volunatary, it must comply with the clause 49 of the listing agreement. i.e chairman must be independent director