https://www.taxtmi.com/circulars?id=61315 SEBI clarifies that relatives of sponsors or sponsor directors, nominees of stakeholder companies, and other persons deemed "associates" are ineligible to serve as independent directors while the association exists. A person who ceases to be an associate must observe a three-year cooling-off period before appointment as an independent director; during that interval they may only serve as associate directors. AMCs and trustee companies must classify directors accordingly, notify SEBI if independent-director composition falls below required levels, and use the revised bio-data format when submitting new director particulars. en-us Thu, 20 Dec 2001 00:00:00 +0530 Mon, 03 Jun 2019 18:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=61315 SEBI clarifies that relatives of sponsors or sponsor directors, nominees of stakeholder companies, and other persons deemed "associates" are ineligible to serve as independent directors while the association exists. A person who ceases to be an associate must observe a three-year cooling-off period before appointment as an independent director; during that interval they may only serve as associate directors. AMCs and trustee companies must classify directors accordingly, notify SEBI if independent-director composition falls below required levels, and use the revised bio-data format when submitting new director particulars. Circulars SEBI Thu, 20 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/circulars?id=61315