Section 151: Appointment of director elected by small shareholders
This section allows listed companies to appoint a director elected by small shareholders holding shares of twenty thousand rupees or less.
The section, clause by clause
What the section says
In plain terms
A listed company may have one director elected by such small shareholders in such manner and with such terms and conditions as may be prescribed. Explanation.—For the purposes of this section “small shareholders” means a shareholder holding shares of nominal value of not more than twenty thousand rupees or such other sum as may be prescribed.
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
Amendment notes
- 1. Ins. by Act 29 of 2020, s. 32 (w.e.f. 18-3-2021).
- 1. Ins. by Act 1 of 2018, s. 47 (w.e.f. 9-2-2018).
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Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.