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of <h1>Independent director obligations for HVDLEs require shareholder approval, tenure limits, meetings, declarations and D&O insurance.</h1> Regulation 62N prescribes governance obligations for independent directors of listed issuers of non-convertible debt (HVDLE). It bars alternate directors for independent directors, aligns maximum tenure with company law, and requires appointment/re-appointment/removal by special resolution with specified public shareholder thresholds, resulting in deemed appointment in specified circumstances. Independent directors must hold an annual meeting without management to review board and chair performance and information flows; they must declare continued independence annually; the board must assess such declarations; D&O insurance is required; post-resignation cooling-off restricts subsequent executive appointments for one year.
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