Sitting fee to Independent Directors and Women Directors shall not be less than the sitting fee payable to other directors.

Sitting fee

A company may pay a sitting fee to a director for attending Board meetings or committees thereof, shall not exceed one lakh rupees per meeting of the Board or committee thereof: The sitting fee to Independent Directors and Women Directors shall not be less than the sitting fee payable to other directors.

Key Managerial Person (KMP)

Every listed company and every other public company having a paid-up share capital of ten crore rupees or more shall have whole-time key managerial personnel. According to Section 203 of the Companies Act, 2013, (i) managing director, or Chief Executive Officer or manager and in their absence, a whole-time director; (ii) company secretary; and (iii) Chief Financial Officer are the KMPs.

Secretarial Audit Report

Every public company having a paid-up share capital of fifty crore rupees or more; or every public company having a turnover of two hundred fifty crore rupees or more should conduct a secretarial Audit