d suresh (24 Points)
17 May 2018
Vidhya Sadhasivam
(Company Secretary in Practice)
(56 Points)
Replied 18 May 2018
Based on the recommendation of board and nomination and remuneration committee , you can appoint a person as independent director. But the appointment is subject to the approval of the shareholders
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 19 May 2018
| Originally posted by : d suresh | ||
 |
Can a Public limited company appoint an independent director in the board subject to the approval of shareholders in the ensuing AGM. Or is it necessary that Independent Directors should be appointed only in the AGM |  |
Yes he may be appointed as Additional Director and in AGM he will be appoitned as Regular Independent Director for a term of 5 years,.
Jatin Bajaj
(CS)
(2930 Points)
Replied 21 May 2018
As per Section 149, read with Section 161 , read with Appointment and qualification of Director rules, Public Company subject to the approval of nomination and remuneration committee if any shall appoint the independent Director as non executive Director in capacity of Additional Director subject to the approval in General meeting or Annual General Meeting as the case may be. As per Section 149(10), such Independent Director shall hold the office for the period of less than 5 years but for purpose of Section 149, it shall be treated as the person has been appointed for a term of five years
CAclubindia
