Unlisted cos can have independent directors


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The panel will decide on the offer for chosen separate administrators comprising small investors in its next seated towards the end of this 30 days. The idea document on the new law had suggested compulsory booking for separate administrators in community areas organizations with a paid-up investment limit of Rs 5 crore.
It had said that every such organization should have at least seven administrators of which, close to 50 percent should be separate.
Earlier, organization matters reverend Prem Chand Gupta had mentioned that he individually recommended making this attention to individual organizations but remaining the last say to the panel.




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