The company is a listed company and its securities are listed on the stock exchange.Women DirectorĪ company, whether be it a private company or a public company, would be required to appoint a minimum of one woman director in case it satisfies any of the following criteria: Public Companies with total outstanding loans, deposits, and debenture of Rs.50 Crores or more.Ī listed company, could upon the notice of a minimum of 1000 small shareholders or 10% of the total number of the small shareholder, whichever is lower, shall have a director which would be elected by small shareholders.
Public Companies with Turnover of Rs.100 Crores or more,.Public Companies with Paid-up Capital of Rs.10 Crores or more,.Following companies need to appoint at the least two independent directors: The tenure of the Independent directors the hall up to 5 consecutive years however, they shall be entitled to reappointment by passing a special resolution with the disclosure in the Board’s report. In other words, an independent director is a non-executive director without a relationship with a company which might influence the independence of his judgment. Independent directors are non-executive directors of a company and help the company to improve corporate credibility and enhance the governance standards. Types of Directors Residential DirectorĪs per the law, every company needs to appoint a director who has been in India and stayed for not less than 182 days in a previous calendar year. The company could appoint more directors bypassing the special resolution in its general meeting. A company can have a maximum of 15 directors. The law requires that every company must have at least 3 directors in the case of public limited companies, minimum 2 directors in the case of private limited companies and a minimum 1 director in the case of one-person companies. Minimum and Maximum number of directors in a company
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