Clarity on Appointing Directors Over 75: SAT Verdict in 20 Microns Limited Case

20 Microns Limited Vs BSE Limited (Securities Appellate Tribunal, Mumbai) Case Analysis : SAT Verdict in 20 Microns Limited v. BSE Limited and Anr, on Regulation 17(1A) of LODR and Corporate Appointments Introduction In the resent case of  20 Microns Limited v. BSE Limited and Anr. SAT upheld the appointment of director through board resolution prior to special resolution and allowed for retrospective approval of shareholders. In this case 20 Microns Limited (the “Petitioner”) was listed on BSE and NSE. The company’s board of directors was constituted as per the requirements of SEB...