Companies (Removal of Difficulties) Order, 2018 - F. No. 7/8/2016-CL.I

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Law:

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Income Tax
Central GST Laws
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Fourth Schedule
Miscellaneous
Section 002(14)
Section 002(19AA)
Section 002(22AAA)
Section 002(42A)
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Section 002(44)
Section 002(48)
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Produced in Govt. Factories, Mines, Mints, Prisons, Defence
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<h1>Ministry of Corporate Affairs mandates special resolution for removing re-appointed independent directors under amended Section 169.</h1> The Companies (Removal of Difficulties) Order, 2018, issued by the Ministry of Corporate Affairs, addresses challenges in the appointment and removal of independent directors under the Companies Act, 2013. It highlights the need for stronger corporate governance and suggests amending section 169 to require a special resolution for removing re-appointed independent directors. This change aims to balance board powers and improve governance practices. The order, effective upon its publication, modifies section 169 to ensure that re-appointed independent directors can only be removed by a special resolution after being given a reasonable opportunity to be heard.

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