Companies Act, 2017

PART-VII

DISQUALIFICATION OF DIRECTORS BY THE COMMISSION

Companies Act, 2017 PART-VII DISQUALIFICATION OF DIRECTORS BY THE COMMISSION From: 2023-11-01 - To: 0000-00-00 1[181. Protection to independent and non-executive directors.- (1) Notwithstanding anything contained in this Act- (a) an independent director; and (b) a non-executive director; shall be held liable, only in respect of such acts of omission or commission by a listed company or a public sector company which had occurred with his knowledge, attributable through board processes, and with his consent or connivance or where he had not acted diligently. For the purpose of this section a non-executive director means, a person on the board of the company who- (a) is not from among the executive management team and may or may not be independent; (b) is expected to lend an…