SEBI proposes new rules for independent director appointments | Editorji
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SEBI set to make independent directors truly independent

Mar 02, 2021 21:05 IST | By Editorji News Desk

Market regulator is looking to reduce promoter influence on independent directors by changing the way the latter are appointed. In a discussion paper floated by SEBI it suggests an overhaul of appointment and removal as well as eligibility criteria 
 
SEBI is looking at putting in place a dual approval system for bringing on or removing independent directors where the majority and minority shareholders will have to give approval. SEBI is also proposing that appointment of key managerial personnel (KMP) and employees of promoter group companies as independent directors would require more checks and balances. 

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