Did You Know? · Corporate & Commercial Contracts
Do you know one-third of a listed company's board must be independent directors?
Under SEBI's LODR Regulations the independent director requirement shifts from one-third to one-half depending on who chairs the board.
Under SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, listed companies must have at least one-third independent directors if the chairperson is non-executive, and at least half if the chairperson is an executive or related to the promoter group - a distinction founders converting to a listed structure often overlook until well into the IPO process.