Date of compliance of provisions of independent director

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 April 2014 Dear Experts,

My query is with respect to date of compliance of section of Independent Director. In the rules notified by the Government, there is no date mentioned as to till what time are the prescribed class of companies required to comply with the provisions of Independent Director. As per SEBI circular, amendment made to clause 49 of the Listing agreement, listed companies are required to comply with the same by Oct 2014. Till What time are the Public Companies that fall in this category required to comply?

Avneesh Mishra

Avneesh Mishra (Expert)
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25 April 2014 Dear,

Please refer to the Gazetted notification no. 27 dated 30th August, 2013 as specified in the provisions of Section 149(5), Independent Director Appointment has a transitional period of 1 year w.e.f 01/Apr/2014.

Trust this is in line to suffice your query.

Regards,
Avneesh Mishra