<h1>Independent director materiality test adopted to limit disqualifying pecuniary relationships and protect board independence.</h1> Residence requirement should refer to the financial year, effective after six months from incorporation. Introduce a materiality test for pecuniary relationships when determining independence of independent directors and clarify relative transaction categories. Define nominee director; prohibit appointing a director as an alternate in the same company; allow private company boards to fill casual vacancies; exempt dormant company directorships from the directorship ceiling. Limit vacancy trigger to personal disqualifications, allow six months to cure continuing company non compliance, make director resignation filing to registrar optional, and permit future flexibility on DIN/identification.