The Insolvency and Bankruptcy Code 2016 (IBC) has proved to be one of the landmark legislations paving a way to rescue the businesses which are potentially viable however, are in the turmoil because of the incapacity of the management.
Independent Directors hold paramount position in the Board of Directors since they are donned with the responsibility of upholding the interest of the stakeholders and are expected to bring in independent judgement on the Board’s deliberations especially on issues of strategy, performance, risk management, resources, key appointments and standards of conduct as well as bring an objective view in the evaluation of the performance of board and management.
