Independent directors bring objective oversight to a board: they chair or sit on audit and nomination committees, challenge management, and protect the interests of minority shareholders. Under the Companies Act, 2013, many public companies must appoint them, and every person appointed must first be registered in the Independent Director’s Databank maintained by the Indian Institute […]

For decades, most private limited companies in India issued paper share certificates and kept ownership records in a physical register of members. That changed on 27 October 2023, when the Ministry of Corporate Affairs (MCA) inserted Rule 9B into the Companies (Prospectus and Allotment of Securities) Rules, 2014. Rule 9B requires many private companies to […]