Sebi approves new option for appointment, removal of independent directors ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 24
Sebi on Friday approved introduction of a new option for appointment and removal of independent directors from the boards of companies. The move will provide flexibility in the approval process for appointment or removal of independent directors. Once the amended rules are in place, the appointment and removal of independent directors could be done by way of two parameters -- threshold for ordinary resolution and threshold for majority of minority shareholders. Currently, the appointment, re-appointment or removal of independent directors is to be made through a special resolution. Sebi's board, during its meeting held here on Friday, approved an alternative method for the appointment and re

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