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Independent Directors in PSUs

Dated:- 3-12-2015 - Section 149(4) of Companies Act, 2013 mandates appointment of independent directors by listed companies. Further, as per Rule 4 of Companies (Appointment and Qualifications of Directors) Rules, 2014 the following class of companies shall have atleast two independent directors:- the Public Companies having paid up share capital of ten crore rupees or more; or the Public Companies having turnover of one hundred crore rupees or more; or the Public Companies which have, in aggreg .....

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e Ministries and submitted to DPE. These proposals are processed in DPE and are placed for the consideration of the Search Committee. The recommendations of the Search Committee are thereafter forwarded to the concerned administrative Ministries. The appointment of non-official Directors on the Boards of CPSEs is made by the administrative Ministries on the basis of recommendations made by the Search Committee after completing due formalities and obtaining approval of competent authority. (ii) T .....

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