Board composition rules require committee membership largely by non-managing directors, defining Act and Seal under share certificate rules. Defines core terms for the Companies (Issue of Share Certificates) Rules, 1960: Act means the Companies Act; Board means the Board of Directors or a Committee thereof with prescribed minimum membership and a requirement that, to the extent composition permits, at least half the committee members be directors other than a managing or whole time director; and Seal means the common seal of a company.
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Provisions expressly mentioned in the judgment/order text.
Board composition rules require committee membership largely by non-managing directors, defining Act and Seal under share certificate rules.
Defines core terms for the Companies (Issue of Share Certificates) Rules, 1960: Act means the Companies Act; Board means the Board of Directors or a Committee thereof with prescribed minimum membership and a requirement that, to the extent composition permits, at least half the committee members be directors other than a managing or whole time director; and Seal means the common seal of a company.
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