Question
How many minimum independent directors should a public
company have whose paid up capital is Rs.10 crore?Solution
The Central Government may prescribe the minimum number of independent directors in case of any class or classes of public companies: o at least 2 independent directors in case of public company having paid up capital of at least Rs.10 crore or turnover of at least Rs.100 crore or have aggregate outstanding loans/debentures/deposits of more than Rs.50 crore
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Forwards contract can be reversed only with the same counter-party with whom it was entered into
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