Small shareholders’ director.

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....e a small shareholders' director elected by the small shareholders: Provided that nothing in this sub-rule shall prevent a listed company to opt to have a director representing small shareholders suo motu and in such a case the provisions of sub-rule (2) shall not apply for appointment of such director. (2) The small shareholders intending to propose a person as a candidate for the post of small....

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.... (c) his consent to act as a director of the company (4) Such director shall be considered as an independent director subject to , his being eligible under sub-section (6) of section 149 and his giving a declaration of his independence in accordance with sub-section (7) of section 149 of the Act. (5) The appointment of small shareholders' director shall be subject to the provisions of section 1....