Under the Companies Act 2013, the 'Independent Directors' must hold a special training. If an independent director fails to attend the training, what is the consequence?
A.He is automatically removed from the board
B.No consequence, as training is optional
C.His appointment is rendered void, and he cannot be appointed as an independent director
Explanation:
As per the Companies (Appointment and Qualification of Directors) Rules, if a person selected as an independent director fails to undergo the prescribed training, their appointment becomes void, and they are ineligible for appointment as an independent director.
A business paid ₹12,000 as insurance premium for the year ending 31st March 2025, out of which ₹3,000 relates to next year. Insurance expense for current year is:
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