Exemptions given to certain unlisted public companies under the Companies (Appointment and Qualification of Directors) Rules, 2014 from the appointment of independent directors – reg.
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Joint venture definition clarifies exemption from independent director appointment under Rule 4 for certain unlisted public companies. Amended Rule 4 exempts unlisted public companies that are joint ventures, wholly owned subsidiaries, or dormant companies from appointing independent directors; 'joint venture' means a written joint arrangement where parties sharing joint control have rights to the net assets of the arrangement, consistent with Accounting Standards.
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.
Joint venture definition clarifies exemption from independent director appointment under Rule 4 for certain unlisted public companies.
Amended Rule 4 exempts unlisted public companies that are joint ventures, wholly owned subsidiaries, or dormant companies from appointing independent directors; "joint venture" means a written joint arrangement where parties sharing joint control have rights to the net assets of the arrangement, consistent with Accounting Standards.
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