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ARTICLE · 28 JUNE 2018

Qualifications Of Independent Director

S.S. Rana & Co.
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The Amendment Rules provides for additional criteria for appointment of independent director.

IndiaCorporate/Commercial Law
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Introduction

The Ministry of Corporate Affairs (hereinafter referred to as "MCA") has amended the Companies (Appointment and Qualification of Directors) Rules, 2014 (hereinafter referred to as "Parent Rules") and introduced the Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2018 (hereinafter referred to as "Amendment Rules") vide notification no. G.S.R 431(E) dated May 7, 2018. The Amendment Rules provides for additional criteria for appointment of independent director.

Appointment of independent directors

The qualification required for appointment of independent directors as laid down in the Parent Rules is that an independent director shall possess appropriate skills, experience and knowledge in or more fields of finance, law, management, sales, marketing, administration, research, corporate governance, technical operations or other disciplines related to the company's business.

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