[Notification Date: 26.03.2014; Effective from: 01.04.2014]
Section 151- Appointment of director elected by small shareholders. [Corresponds to Section 252, of the Companies Act, 1956]; [Relevant Rule:7 of The Companies (Appointment and Qualification of Directors) Rules, 2014]
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 - [Rule 7].
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.