Legal Framework Regarding Independent Directors in India: A Critical Evaluation
The Board of Directors of a Company play a key role in ensuring the sustenance and success of the Company. The major responsibilities of the Board of Directors include providing leadership and strategic guidance to the workforce of the organization, monitoring and supervising the day-to-day activities of the business and fulfilling the goals of the Company. Independence of the Board is important to ensure the implementation of best practices in the Organization. The Independent Directors form a crucial part of the Board of Directors. They aim to achieve good Corporate Governance by acting as a watchdog. They ensure the following: accountability of the Board of Directors, protection of the interests of the shareholders, prevention of oppression against the minority shareholders and improvement of internal controls.
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