The Companies Act, 2013 (the Act) was largely operationalised with effect from 1 April 2014. However, there are a number of implementation issues on which various stakeholders have sought clarifications from the Ministry of Corporate Affairs (MCA). On 9 June 2014, the MCA provided clarifications on the matters relating to pecuniary relationships, appointment and tenure of independent directors. Recently, the MCA has provided further clarifications and has amended certain Rules.
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