Companies Act, 2013 · Chapter XI: Appointment and Qualifications of Directors
Section 151: Appointment of director elected by small shareholders
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.
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.
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 14 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.