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of <h1>Section 160 Amendment: No Deposit Needed for Independent Director Appointments via Nomination Committee or Board Recommendation.</h1> In the Companies (Amendment) Act, 2017, section 160 of the principal Act is amended to include a proviso in sub-section (1). This proviso exempts the requirement for a deposit of an amount during the appointment of an independent director or a director recommended by the Nomination and Remuneration Committee, if constituted under section 178(1), or by the Board of Directors in companies not required to form such a committee.
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