Under the Companies Act 2013, which of the following CORRECTLY describes a 'small shareholder' for the purpose of electing a Small Shareholder Director?

Under Section 151 of the Companies Act 2013 read with Rule 7 of the Companies (Appointment and Qualification of Directors) Rules 2014, a small shareholder is defined as a shareholder holding shares of nominal (face) value not exceeding ₹20,000. Listed companies may have a Small Shareholder Director elected by small shareholders to represent their interests on the board. At least 1,000 small shareholders or one-tenth of the total number of small shareholders (whichever is lower) must give notice requesting the election. The Small Shareholder Director holds office for 3 years and is not liable to retire by rotation, ensuring dedicated minority representation in corporate governance.