KLM Ltd unlisted seek to appoint Small Shareholder rsquo s Director How can they do so if the smalls...........

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

KLM Ltd. unlisted, seek to appoint Small Shareholder’s Director. How can they do so if the smallshareholders have not applied for the same?

Suo-motu, BM-OR

Suo-motu, GM-OR

Cannot be done

Take prior CG approval

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Explanation:

A listed company, may upon notice of not less than 1000 or one-tenth of the total number of small shareholders, whichever is lower, have a Small Shareholders’ Director elected by the small shareholders. A listed company may suo moto (on its own accord) opt to have a director representing small shareholders. Thus the Small Shareholder’s Director’s appointment is optional and made available to listed companies only.