Riya Chaudhary, BBA LLB (Hons.), Law College Dehradun, Uttaranchal University
Dr. Lakshmi Priya Vinjamuri, Law College Dehradun, Uttaranchal University
ABSTRACT
Any organization must have strong corporate governance, particularly to guarantee moral and responsible commercial operations. In recent times, the significance of independent directors' involvement in corporate governance has grown in India. A variety of historical viewpoints have influenced the development of corporate governance standards, each of which has added to the regulatory framework that exists today. A major turning point in this history is the introduction of new provisions to improve accountability and transparency under the Companies Act of 2013. The function of independent directors as corporate governance gatekeepers has been one important subject of attention. This paper aims to investigate the role of independent directors in Indian corporate governance by looking at the legislative framework's historical development and the significance of their function in stopping corporate fraud and the difficulties they encounter in carrying out their responsibilities. This study is important because it sheds light on the vital role independent directors play in encouraging accountability, openness, and sound decision-making in corporate settings as their presence on the board is the sine qua non for a powerful governance system with that if independent directors are made better aware of the problems, difficulties, obligations, statutory duties, and liabilities associated with the post of independent director, the efficacy of the institution of independent directors can be greatly enhanced.
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