Question

XYZ Ltd., a listed entity, has only 2 independent

Q: Answer-XYZ Ltd., a listed entity, has only 2 independent directors on its 12-member Board. Audit Committee...

SEBI requires at least 50 independent directors if chairman is executive. Audit Committee must consist of minimum 3 directors, with majority independent.

directors on its 12-member Board. Audit Committee is formed with 2 independent and 1 executive director. As per SEBI LODR Regulations, is this valid?

A Yes, any number is acceptable.

B No, listed companies must have at least 50% independent directors on the Board if Chairman is executive.

C Yes, as long as audit committee has 1 independent director.

D No, audit committee must have majority of independent directors.

E Both B and D.

Practice Next

More Commerical Law Questions

When a fact is conclusive proof of another, Court shall on proof of that fact_______________.
A is accused of the murder of B by beating him. Whatever was said or done by A or B or by the by-standers at the beating, or so shortly before or after ...
Within how many days must mediation be completed as per the general rule in the Act?
What functions may the Taluk Legal Services Committee perform?
Writ of Mandamus cannot be issued, where a fundamental right is infringed by ______
The Right to free and compulsory education is provided by the State to all the children of the age of ___________________________
As per section 7 of the Banking Regulation Act the provisions of this section shall not apply to____.
Which of the following is not a criminal court?
The Chairman and Whole time Members of SEBI may hold office for a period not exceeding___________________
Specific Relief Act is applicable for enforcement of:

XYZ Ltd., a listed entity, has only 2 independent

Solution