Draft Board Resolution to Take Note of Declaration of Independence
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As per the provisions of section 149(7) of Companies Act, 2013 every independent director shall at the first meeting of the Board in which he participates as a director and thereafter in every financial year or whenever there is any change in the circumstances which may affect his status as an independent director, give a declaration that he meets the criteria of independence as provided in Section 149(6).
Accordingly the declaration of independence received from Independent Director is being placed before the board at Annexure – A for taking note.
Hence if approved following resolution may be passed:-
“RESOLVED THAT pursuant to the provisions of Section 149 (7) of the Companies Act 2013, declaration of independence received from Independent Director of _______ as placed before the Board at Annexure – A, be and is hereby taken on record.
FURTHER RESOLVED THAT _________ be and is hereby authorized to take all necessary actions to implement the above board decision”.
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