Declaration of Independence
(Pursuant to sub-section (7) of Section 149 of the Companies Act, 2013)
To
The Board of Directors
Krishna Bhagya Jala Nigam Limited
Liason Office:
PWD Office Annexe
3rd Floor, K.R. Circle
Bangalore – 560 001.
Dear Sirs,
,
Pursuant to sub-section (7) of Section 149 of Companies Act, 2013 (‘Act’) , I, ………...hereby declare that I meet the criteria of independence in accordance with sub-section (6) of Section 149, asstated below:
a. I am / was not a promoter of the company or its holding, subsidiary or associate company;
b. I am not related to promoters or directors in the company, its holding, subsidiary or associate company;
c. I did not have any pecuniary relationship with the company, its holding, subsidiary or associate company,or their promoters, or directors, during the two immediately preceding financial years or during the current financial year;
d. None of my relatives has or had pecuniary relationship or transaction with the company, its holding,subsidiary or associate company, or their promoters, or directors, amounting to 2% or more of its grossturnover or total income or fifty Lakhs whichever is lower during the two immediately preceding financial years or during the current financial year.
e. I, neither by myself nor any of my relatives—
(i) holds or has held the position of a key managerial personnel or is or has been an employee of thecompany or its holding, subsidiary or associate company in any of the three financial years immediately preceding 2019-20;
(ii) am or have been an employee or proprietor or a partner, in any of the three financial years immediately preceding the financial year 2019-20, of—
(A) a firm of auditors or company secretaries in practice or cost auditors of the company or its holding, subsidiary or associate company; or
(B) any legal or a consulting firm that has or had any transaction with the company, its holding,subsidiary or associate company amounting to ten per cent or more of the gross turnover of such firm;
(iii) holds together with my relatives two per cent or more of the total voting power of the company; or
(iv) is a Chief Executive or director, by whatever name called, of any non-profit organisation that receives twenty-five per cent or more of the receipts from the company, any of its promoters, directorsor its holding, subsidiary or associate company or that hold two per cent or more of the total voting power of the company.
(v) is a material supplier, service provider or customer or a lessor or lessee of the Company;
f. I am not less than 21 years of age.
Terms and Conditions of appointment of Independent directors
I am giving this declaration to enable the Board for determining its composition as per Section 149 of the Act read with the Rules made there under.
I hereby confirm adherence to the standards of Code of Conduct for Independent Directors prescribed in ScheduleIV of the Act.
I undertake to keep the Board informed immediately about any change in the circumstances which may affect my status of independence as per Section 149 (6) of the Act.
Name: ................................
Designation: Independent Director
ಕರ್ನಾಟಕ ಸರ್ಕಾರದ ಅಧಿಕೃತ ಜಾಲತಾಣ
