Independent director eligibility clarified: promoter members cannot serve as independent directors and RVOs must reconstitute boards. The Authority clarifies that members of a promoter organisation-shareholder members of a promoter company, trustees of a promoter trust/association, or professional members of a promoter professional body-shall not be regarded as independent directors of a Registered Valuer Organisation; RVOs whose Governing Board composition does not reflect this clarification are required to reconstitute their Governing Board within three months.
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 director eligibility clarified: promoter members cannot serve as independent directors and RVOs must reconstitute boards.
The Authority clarifies that members of a promoter organisation-shareholder members of a promoter company, trustees of a promoter trust/association, or professional members of a promoter professional body-shall not be regarded as independent directors of a Registered Valuer Organisation; RVOs whose Governing Board composition does not reflect this clarification are required to reconstitute their Governing Board within three months.
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