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of <h1>Appointing a new director at a general meeting: 14-day notice and ?1 lakh deposit, refundable on election or 25% votes</h1> A person other than a retiring director may be appointed as a director at a general meeting if the person, or a proposing member, delivers a written notice of candidature (or intent to propose) at the company's registered office at least 14 days before the meeting and deposits ?1,00,000 (or a higher prescribed amount), which is refundable if the candidate is elected or secures more than 25% of total valid votes cast on the resolution; this deposit requirement does not apply to an independent director or a director recommended by the Nomination and Remuneration Committee, or by the Board where such committee is not required. The company must communicate the candidature to members in the prescribed manner.
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