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Every listed public company shall have at least one-third of the total number of directors as independent directors and the following classes of companies are required to appoint at least two directors as independent directors (In case, they are required to appoint higher number of independent director due to the composition of its Audit Committee, such higher number of Independent director shall be applicable to it-).:

o Public Companies having paid up capital of Rupees ten crore or more; or
o Public Companies having turnover of Rupees one hundred crore or more; or
o Public Companies having aggregate outstanding loans, debentures and deposits, exceeding Rupees fifty crore. [Section 149(4) & Rule No. 4 of Companies (Appointment and Qualification of Directors) Rules, 2014]

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