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By Circular dated 8 April 2008, the Securities and Exchange Board of India amended Clause 49 of the Listing Agreement to extent the 50% independent directors rule to all Boards of Directors where the Non-Executive Chairman is a promoter of the Company or related to the promoters of the company.
In India as of 2017, a majority of the minimum three directors of public companies having share capital in excess of Rs. 100 million (Rs 100,000,000) should be independent. Clause 49 of the listing agreements defines independent directors as follows:
A non-executive director (abbreviated to non-exec, NED or NXD), independent director or external director is a member of the board of directors of a corporation, such as a company, cooperative or non-government organization, but not a member of the executive management team.
The two exchanges also mandate that to qualify as independent, a director of a public company can receive no more than $120,000 in compensation from it during a 12-month period.
The Institute of Directors (India) was established in India on 12 July 1990, as a not-for-profit, apex association of Directors under the India's 'Societies Registration Act XXI of 1860' to improve their professional competence. It has since grown to associate with more than 30,000 leaders from Govt, PSU and Private organisations.
The IOD, India's 'Masterclass for Directors' training for 'Certified Corporate Directorship' , and 'Golden Peacock Awards' in 15 different corporate disciplines, both have become global benchmarks. IOD has also setup a special wing called 'Organization for Non-Executive Independent Directors' (ONEID), mandated to look after the placement of ...
The Indian Institute of Corporate Affairs (IICA) was established by the Central Government in 2008 as an Institute under the administrative control of Ministry of Corporate Affairs, Government of India to function as a think tank, carry out action research, service delivery and capacity building support to the Central Government, corporate sector, professionals and related stakeholders.
In the 1960s and 1970s, the Indian government financed a number of such films, on Indian themes. Many of the directors were graduates of the Film and Television Institute of India, Pune. Ritwik Ghatak was a professor at the institute and a well-known director in his own right