<h1>Corporate law reform: proposed overhaul to modernize governance including independent director norms and auditor rotation.</h1> Comprehensive revision of company law is proposed to modernize corporate regulation and promote development of the corporate sector through a new Companies Bill. Key reform areas under consideration include Independent Director norms (composition, tenure, liability and remuneration), auditor rotation, a formal Corporate Social Responsibility framework, restrictions on subsidiary layers, differential voting rights for equity, limits on directorships, and managerial remuneration ceilings.