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Govt. tweaks norms for appointment of Independent Directors

May 8, 2018
The Govt. has notified second amendment to the Companies (Appointment and Qualification of Directors) Rules, 2014 whereby amendment has been made to Rule 5. As per the revised norms none of the relatives of an independent director should be indebted to the company or has given a guarantee to its holding, subsidiary or associate company or their promoter or directors for an amount of Rs. 50 Lakhs at any time during the two immediately preceding financial years or during current financial year.
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