As per the provision of Section 149(5) appointment of independent directors is being given one year transition period but there is no such transition time for remuneration or nomination committee. Under Section 178 Nomination & Remuneration committee is to have minimum 2 independent directors. If a company does not have Independent directors as of now, how can the committee be constituted as one year transition time given for appointment of Independent Directors? Can remuneration and nomination committee constitution be also assumed to be formed in one year transition time?
The philosophy of law is commonly known as jurisprudence. Normative jurisprudence asks "what should law be?", while analytic jurisprudence asks "what is law?" John Austin's utilitarian answer was that law is commands. I consider myself as an experienced NYC Web Developer.