Independent Directors
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 July 2011
Dear All
Kindly provide the definition of independent directors
Kindly provide the definition of independent directors
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
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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