Minimum Number of Independedent director

This query is : Resolved

Report Abuse Follow Query Ask a Query

CA. Mala Rohara

CA. Mala Rohara (Querist)
Follow

21 November 2009 What is the minimum number of independent directors in a listed company?

Jagruti (CS)

Jagruti (CS) (Expert)
Follow

21 November 2009 It depends upon Chairman, as per Clause 49 (I)A,

ii. Where the Chairman of the Board is a non-executive director, at least one-third of the Board should comprise of independent directors and in case he is an executive director, at least half of the Board should comprise of independent directors.
Provided that where the non-executive Chairman is a promoter of the company or is related to any promoter or person occupying management positions at the Board level or at one level below the Board, at least one-half of the Board of the company shall consist of independent directors.