Independent directors classification clarified: institutional directors are independent except in government companies; committee limits apply to three public-company committees. Institutional directors are to be treated as independent directors except in government companies. For committee-membership limits, only public limited companies are counted and other company types are excluded; only the Audit Committee, the Shareholders' Grievance Committee and the Remuneration Committee are to be considered. Stock exchanges must amend their listing agreements and notify SEBI.
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.
Independent directors classification clarified: institutional directors are independent except in government companies; committee limits apply to three public-company committees.
Institutional directors are to be treated as independent directors except in government companies. For committee-membership limits, only public limited companies are counted and other company types are excluded; only the Audit Committee, the Shareholders' Grievance Committee and the Remuneration Committee are to be considered. Stock exchanges must amend their listing agreements and notify SEBI.
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