Live Lecture Notes

Introduction

• Live streaming of the lecture started
• Welcome to online and offline students
• A dream: students who like the video passed

Main Topic: Section 149

• 13 subsections under Section 149
• Three key points: Woman Director, Resident Director, Independent Director

Woman Director

• Woman director mandatory in some companies
• Regulation: 149 Subsection 1, second provision
• Relevant rules: Companies Appointment and Qualification of Director Rules 2014

Resident Director

• At least one director in every company who resides in India
• Regulation: 149 Subsection 3

Independent Director

• Primarily focused on independent directors
• Regulation: 149 Subsection 4
• Required for listed companies

Important Points of Section 149

• Maximum number of directors: 15
• More than 15 directors through SR
• 149 Subsection 4 to 13: for independent directors

Appointment and Removal of Directors

• OR required for the appointment of an independent director
• Tenure: up to five years
• Section 169 applicable for removal

Other Important Points

• Disclosure of interest by independent director
• Code of conduct
• Sitting fee and out-of-pocket expenses

Conclusion

• Inclusion of basic and technical topics
• Next chapter: Appointment of Directors and their provisions
• Encouragement of student participation
• Advised to like, share, and comment on the video

These notes can assist students in exam preparation and serve as a good reference for future revision.