Regulatory Provisions under Companies Act 2013 Related to Independent Director from Corporate Governance Perscpective

Abstract

Independent directors have emerged as the cornerstones of the worldwide corporate governance movement. Their increased presence in the boardroom has been hailed as an effective deterrent to fraud and mismanagement, inefficient use of resources, inequality and unaccountability of decisions; and as a harbinger for striking the right balance between individual, economic and social interests. The research paper aims to study the regulatory provisions under the Companies Act 2013 related to the independent director from corporate governance perspective. It shall attempt to outline the broad shortcomings of the current approach and make recommendations which include structural changes as well as a change in the attitude of corporate India.