SRM CONTRACTORS LIMITED governance filing maps 8 board seats

The board must carry an optimum mix of executive and non-executive directors with at least one woman director. Where the chairperson is a non-executive who is not a promoter, at least one-third of the board must be independent; where the chair is executive, is a promoter, or there is no regular non-executive chair, at least half the board must be independent.

Why it matters: It sets the independence floor a board must never fall below.

The audit committee must have at least three directors, two-thirds of them independent, every member financially literate, and at least one with accounting or financial-management expertise. It is chaired by an independent director and meets at least quarterly. Because it signs off on financial reporting and related-party transactions, a vacancy here is treated as urgent.

Why it matters: A thin audit committee is one resignation from a compliance breach.

Listed entities must disclose material events and board decisions — including the appointment, resignation or removal of directors — to the stock exchanges promptly, generally within a short window of the board's decision. This is the filing behind most of the appointments and exits the Journal reports.

Why it matters: It is why board changes become public within a day, not at the next AGM.