TaxTMI 
TaxTMI 
Obligations with respect to independent directors
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....rector for an independent director of a HVDLE. (2) The maximum tenure of independent directors shall be in accordance with the Companies Act, 2013 and rules made thereunder. (3) The appointment, re-appointment or removal of an independent director of a HVDLE, shall be subject to the approval of shareholders by way of a special resolution: Provided that where a special resolution for the appoint....
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....t one meeting in a financial year, without the presence of non-independent directors and members of the management and all the independent directors shall strive to be present at such meeting. (5) The independent directors in the meeting referred in sub-regulation (4) shall, inter alia- (a) review the performance of non-independent directors and the board of directors as a whole; (b) review t....
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....ectors of the HVDLE shall be replaced by a new independent director by the HVDLE not later than three months from the date of such vacancy: Provided that where the HVDLE fulfils the requirement of independent directors in its board of directors without filling the vacancy created by such resignation or removal, the requirement of replacement by a new independent director shall not apply. (8) The....
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...., which exist or may be reasonably anticipated, that could impair or impact his ability to discharge his duties with an objective independent judgment and without any external influence. (10) The board of directors of the HVDLE shall take on record the declaration and confirmation submitted by the independent director under sub-regulation (9) after undertaking due assessment of the veracity of th....