Independent Directors

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Querist : Anonymous

Querist : Anonymous (Querist)

02 July 2011 Dear All
Kindly provide the definition of independent directors

CS Bijoy

CS Bijoy (Expert)
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02 July 2011 According to me Independent Director must have the following feature:

1.has not been employed by the Company or its Related Parties in the past five years;

2.is not, and is not affiliated with a company that is an advisor or consultant to the Company or its Related Parties;

3.is not affiliated with a significant customer or supplier of the Company or its Related Parties;

4.has no personal service contracts with the Company, its Related Parties, or its senior management;

5.is not affiliated with a non-profit organization that receives significant funding from the Company or its Related Parties;

6.is not employed as an executive of another company where any of the Company's executives serve on that company's board of directors;

7.is not a member of the immediate family of an individual who is, or has been during the past five years, employed by the Company or its Related Parties as an executive officer;

8.is not, nor in the past five years has been, affiliated with or employed by a present or former auditor of the Company or of a Related Party; or

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