Ministry to follow JJ Irani panel recommendations.
The ministry of company affairs is going ahead with the JJ Irani Committee’s recommendations specifying that at least one-third of a public company’s board be made up of independent directors.
The proposal is expected to be part of the new Companies Bill, which is being given final touches. The ministry also wants to insist on a similar composition for boards of companies accepting public deposits.
“We are broadly in agreement with the Irani Committee’s recommendations on independent directors,” Company Affairs Minister Prem Chand Gupta told Business Standard.
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