XYZ company is a listed public limited company having total number of directors as 13 paid up capita...........

Companies Act-Phase (I & II) Directors - powers and appointment

XYZ company is a listed public limited company having total number of directors as 13, paid-up capital of Rs. 20 crores as on last day of financial year and turnover of Rs. 150 crores as on last day of the financial year. How many independent directors have to be appointed by the company?

2 directors

3 directors

5 directors

Four directors

No requirement of appointment.

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Explanation:

As per Companies Act, 2013, An Independent Director in relation to a company means a director other than Managing Director of the Company, Whole-time director of the company, Nominee Director of the company. Every listed public company shall have at least 1/3 ^rdof total number of directors as independent directors.