Independent director eligibility – Companies Act & SEBI (LODR) Regulations

Eligibility criteria for appointment as an Independent Director

As per Section 2(47) of the Companies Act, 2013, ‘independent director’ means an independent director referred to in sub-section (5) of section 149.

Comparison of Eligibility to be appointed as independent director under section 149 of companies act and Regulation 16(b) of  SEBI (LODR) Regulations, 2015.

Here the term “relative” means:  relative as defined under sub-section (77) of section 2 of the Companies Act, 2013 and rule 4 of Companies (Specification of definitions details) Rules, 2014

Refer to my next article for explanation on Applicability of appointing independent directors, term or appointment, Maximum directorships, data base of independent director and other such matter related to independent director.