TMI BlogSmall shareholders’ director.X X X X Extracts X X X X X X X X Extracts X X X X ..... ower, have a small shareholders director elected by the small shareholders: Provided that nothing in this sub-rule shall prevent a listed company to opt to have a director representing small shareholders suo motu and in such a case the provisions of sub-rule (2) shall not apply for appointment of such director. (2) The small shareholders intending to propose a person as a candidate for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a director under the Act; and (c) his consent to act as a director of the company (4) Such director shall be considered as an independent director subject to , his being eligible under sub-section (6) of section 149 and his giving a declaration of his independence in accordance with sub-section (7) of section 149 of the Act. (5) The appointment of small shareholders director s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ctor ceases to meet the criteria of independence as provided in sub-section (6) of section 149 . (8) No person shall hold the position of small shareholders director in more than two companies at the same time: Provided that the second company in which he has been appointed shall not be in a business which is competing or is in conflict with the business of the first company. (9) A smal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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