Urgent_Applicability of Section 149 on private companies

[sid]

Dear All,

The section 2(47) of CA 2013 defines an Independent Director as a director mentioned in section 149(5). The section 149(5) says that every company falling under the ambit of section 149(4) shall appoint a Independent Director which does not include a private company.

My query is that on the basis of the above a Private Company can appoint an Independent Director having characteristics as mentioned in section 149(6) but need not follow the other provisions of the section 149 and Schedule IV of the Act.

Please share your thoughts.

[CS Simranjeet Singh]

i believe it will be required to follow other provisions as well as you are voluntarily complying with the requirement.

 

 

With Best Regards?

Simranjeet Singh

Associate Company Secretary

"To know, is to know that you know nothing. that is the meaning of true knowledge."

 

   

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[santhosh kumar]

pls go through the  relevant rules and schedule iv.

On Thu, Feb 26, 2015 at 4:42 PM, santhosh kumar <santho...@gmail.com> wrote:

you to follow the schedule IV.

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CS.M.Santhoshkumar
"From the man who always has a Good heart ! "

ॐ सर्वे भवन्तु सुखिनः

 

 

--

CS.M.Santhoshkumar
"From the man who always has a Good heart ! "

ॐ सर्वे भवन्तु सुखिनः

 

 

[mallik vishwanatham]

Applicability of requirement of appointment of ID is only not applicable to private companies. But if you appoint any ID and designate him as ID under this Act, then all the provisions relating to ID will be applicable to private company also.

Thanks & Regards

Mallik

[Vijay Raghavan]

U can appoint a person who has a qualifies of I'd. But don't designate him as I d . if u r designating him as I d then u need to comply with all prov of 149.
Other views are solicited.