Securities And Exchange Board Of India - Subsection
Section 17A(2) in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
(2)Notwithstanding the above, any person who is serving as a whole time director / managing director in any listed entity shall serve as an independent director in not more than three listed entities.For the purpose of this sub-regulation, the count for the number of listed entities on which a person is a director/ independent director shall be only those whose equity shares are listed on a stock exchange.]
