https://www.taxtmi.com/notifications?id=125344 The amendment inserts a sub rule excluding certain financial ties of relatives of independent directors from the independence disqualification: a relative who is indebted to, or has given a guarantee or provided security for the indebtedness of any third person to, the company, its holding, subsidiary or associate company, or their promoters or directors, within the two immediately preceding financial years or the current financial year, falls within the specified monetary and temporal limits set by the rule. The amendment also replaces "shall" with "may" in rule 16, converting a mandatory requirement into a permissive one. en-us Mon, 07 May 2018 00:00:00 +0530 Fri, 02 Jan 2026 17:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=125344 The amendment inserts a sub rule excluding certain financial ties of relatives of independent directors from the independence disqualification: a relative who is indebted to, or has given a guarantee or provided security for the indebtedness of any third person to, the company, its holding, subsidiary or associate company, or their promoters or directors, within the two immediately preceding financial years or the current financial year, falls within the specified monetary and temporal limits set by the rule. The amendment also replaces "shall" with "may" in rule 16, converting a mandatory requirement into a permissive one. Notifications Companies Law Mon, 07 May 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=125344