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of <h1>Small shareholder director option for listed companies enables minority retail investors board representation under Companies Act</h1> A listed company is permitted, but not required, to have one director specifically elected by its small shareholders. The election process, terms, and conditions for such a director are to be prescribed by subordinate legislation. For this purpose, 'small shareholders' are defined as shareholders holding shares with a nominal value not exceeding twenty thousand rupees, or such other threshold as may later be prescribed by regulation. This provision creates a mechanism for minority retail investors with relatively small holdings to obtain direct representation on the board of a listed company.
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