NRC resolution format for recommending appointment of a director under Section 178(2) and (3), with evaluation and the Section 160(1) deposit waiver.
“RESOLVED THAT pursuant to Section 178(2) and (3) and other applicable provisions, if any, of the Companies Act, 2013 and the rules made thereunder, and the Nomination and Remuneration Policy of the Company, the Committee, having identified Mr./Ms. [●] (DIN: [●]) and evaluated his/her qualifications, positive attributes, experience [and independence] against the criteria laid down by the Committee, hereby recommends to the Board the appointment of Mr./Ms. [●] as [an Additional Director / a Director, to be proposed for appointment by the members at the next general meeting] in the category of [Non-Executive / Independent / Executive] Director, [liable / not liable] to retire by rotation [, for a term of [●] consecutive years from [●]].
RESOLVED FURTHER THAT the Committee recommends that Mr./Ms. [●] be paid [sitting fees / remuneration] in accordance with the Nomination and Remuneration Policy, and that this resolution be treated as the recommendation of the Nomination and Remuneration Committee for the purposes of the proviso to Section 160(1) of the said Act.
RESOLVED FURTHER THAT the Company Secretary of the Company be and is hereby authorised to place this recommendation, together with the Committee's evaluation, before the Board and to do all such acts, deeds and things as may be necessary for giving effect to this resolution.”
No rules under this Section yet.