Board composition requirements mandate independent representation, quorum rules and mandatory compliance reporting and certification. The Board must comprise at least six directors including at least one woman independent director, with vacancies to be filled promptly; the quorum is one third of total strength or three directors, including an independent director, with remote participation counting. The Board must review quarterly compliance reports for all applicable laws, receive minimum information per Part A of Schedule VII, and obtain a compliance certificate from the CEO, CFO and compliance officer with supporting documents as per Part B of Schedule VII. The investment manager must set forth its recommendation in unitholder notices for items referred to in the relevant sub regulation of regulation 22.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Board composition requirements mandate independent representation, quorum rules and mandatory compliance reporting and certification.
The Board must comprise at least six directors including at least one woman independent director, with vacancies to be filled promptly; the quorum is one third of total strength or three directors, including an independent director, with remote participation counting. The Board must review quarterly compliance reports for all applicable laws, receive minimum information per Part A of Schedule VII, and obtain a compliance certificate from the CEO, CFO and compliance officer with supporting documents as per Part B of Schedule VII. The investment manager must set forth its recommendation in unitholder notices for items referred to in the relevant sub regulation of regulation 22.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
