Number of independent directors.

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....having paid-up share capital of ten crore rupees or more; or (ii) the Public Companies having turnover of one hundred crore rupees or more; or (iii) the Public Companies which have, in aggregate, outstanding loans, debentures and deposits, exceeding fifty crore rupees: Provided that in case a company covered under this rule is required to appoint a higher number of independent....

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....g on the last date of latest audited financial statements shall be taken into account: Provided that a company belonging to any class of companies for which a higher number of independent directors has been specified in the law for the time being in force shall comply with the requirements specified in such law. ^2[(2) The following classes of unlisted public company shall not be covered und....