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Norms on appointing Independent Directors
October 17 , 2017
2606 days
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- Kotak Committee on corporate governance constituted by the SEBI, has recently proposed a fresh set of norms for appointing directors.
- Independent directors, who are supposed to represent ordinary shareholders, are chosen not by shareholders but largely by the management, i.e. the promoter.
- This committee asks for more directors and independent directors and dwells on the eligibility criteria for independent directors, and their induction.
- It lays down requirements for the minimum number of board meetings and attendance requirements.
- It specifies a minimum compensation for independent directors.
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