Independent Director

A director on the board who is not a whole-time director, managing director, or nominee director, and has no material pecuniary relationship with the company. Prescribed under Section 149 of Companies Act 2013 with specific eligibility criteria.

Independent Director is governed by the Ministry of Corporate Affairs under the Companies Act, 2013. Understanding this concept is essential for ensuring regulatory compliance, avoiding penalties, and making informed corporate decisions in India.

Independent Director is relevant for company secretaries, compliance officers, chartered accountants, corporate lawyers, board members, and all professionals dealing with MCA regulatory matters in India.