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Indian Economy - Understanding the basics of Indian economic system

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Consider the following statements

Under the Companies Act, “small shareholders” are defined as those with shares of a nominal value of not more than Rs 20,000 or any other prescribed sum.
Section 151 of the Companies Act 2013 recommends that listed companies have one director elected by minority shareholders.

Select the correct statement.

1 only

2 only

Both

None

Explanation:

Under the Companies Act, “small shareholders” are defined as those with shares of a nominal value of not more than Rs 20,000 or any other prescribed sum.
Section 151 of the Companies Act 2013 recommends that listed companies have one director elected by small shareholders, not minority shareholders.

Hence only statement 1st is correct.

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