Tag Archives: Independent Directors

Qualification of Independent Director


The qualification of independent director is among few provisions where the Companies Act, 2013 become stringent after amendments. The Companies Amendment Act, 2017 read with Notification S.O. 1833(E) dated 7th May 2018 amended sub-section (6) of 149.

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REPORT OF THE COMPANIES LAW COMMITTEE – 5


On 1st February 2016, Ministry of Corporate Affairs uploaded the report of Companies Law Committee on its website here. In 5th post on this report, we will discuss recommendations of the committee related to Auditors, Directors, Independent Directors, etc.

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INDEPENDENT DIRECTORS IN COMPANIES ACT 2013


 (UPDATE: on 30th August 2013: Companies Bill became the Companies Act, 2013 (Act 18 of 2013).

When I was reading Section 149 of the Companies Bill, 2012 for an earlier post “Appointment and Qualification of Director”, I have not discussed provisions related to independent director. As mentioned in that post every listed company shall have at least one-third of total number of directors as Independent directors. The central government may prescribe minimum number of independent directors in other class or classes of public companies. Independent director is a genre of directors and all law related to duties, vacation, resignation, removal will also be applicable to them also. do not forget; they are not key managerial personnel or officer in default.

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CORPORATE GOVERNANCE: REGULATORY FRAMEWORKS UNDER CONSIDERATION


After introduction and passing of Companies Bill 2012 in Lok Sabha, many changes in corporate governance scenario is bound to happen. Many provisions of Clause 49 of listing agreement, which deals with corporate governance in listed companies, are being brought into main law to fill governance gap between listed companies and their other counterparts.  Following provisions have been added into present Companies Bill:

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