X-ray of independent directors under the companies bill 2011

The Companies Bill, 2011 has 470 clauses and 7 schedules as against 658 Sections and 15 schedules in the existing Companies Act, 1956. The entire bill has been divided into 29 chapters. The new Bill seeks to repair and fine tune the 1956 Act. Corporate governance generally places a fair amount of emphasis on board independence, and it is no different in India. Having a minimum number of independent directors (IDs) on the board is said to enhance monitoring of the management and promoters, and thereby protect the interests of the public shareholders. In this article the author discussed about the concept of independent directors and its relevant provisions under the Companies Bill 2011 along with the criticism.