<h1>Proposed Changes to Director Rules: Exclude Some Firms, Align Timelines with SEBI, Clarify ESOP Validity, Keep Woman Director Requirement.</h1> Proposed amendments to the Companies (Appointment and Qualification of Directors) Rules, 2014, suggest excluding joint ventures, wholly-owned subsidiaries, and dormant companies from the requirement to appoint independent directors. The Committee also recommends aligning vacancy filling timelines for independent directors with SEBI regulations. It clarifies that ESOPs granted to independent directors before April 1, 2014, remain valid and proposes linking independent directors' meetings to the financial year. The requirement for woman directors remains unchanged, and the resignation process for directors may become optional, addressing digital signature concerns. These changes aim to streamline governance and compliance.