Independent Director as per Companies Act 2013

in carrying out the responsibilities of a director.

There are some provisions under Companies Act 2013 which deal with the term ‘Independent Director’:

Section 2(47)- Definition of Independent Directors.

Section 134(3)(d)- Statement on declaration of status of independent directors which will be attached with Director’s Report of the Company.

Section 135(1)- Constitution of CSR Committee in which one member should be an independent director.

Section 149- Appointment and qualifications of independent directors.

Section 150- Selection of Independent directors and maintenance of databank of independent directors.

Section 152- Number of Directors in Company

Section 161- No person shall be appointed as an alternate director for an independent director unless he is qualified to be an independent director under the provisions of the act.

Section 173(3)- Board meeting at shorter notice in which atleast one Insependent director should be present.

Section 177- Audit Committee of the Company in which minimum number of Independent Directors will be three.

Section 197- Fee given to Independent Directors.