Lawsikho Blog

At LawSikho, we have a formula for success: Capability + Credibility/ track record + Outreach = Success in anything! Most people remain stuck at the knowledge level, and assume the rest of it will happen automatically over time. A lot of people do not even develop the relevant skills, which…

Before we get into the topic for today’s mail, let’s take a quick minute to discuss who is eligible to become an independent director (ID).  Section 149(6) of the Companies Act 2013 states that an independent director  Must be a person of integrity and possess relevant expertise and experience  Must…

Today, let us start by understanding the time when an independent director (ID) is required to be appointed.  Most public companies appoint independent directors ahead of their IPOs, or if they have reached the INR 10 crore paid-up capital/INR 100 crore turnover/ INR 50 crore debt threshold  Companies may also…

After reading my previous emails, at this stage you are probably wondering whether you have enough experience to become an independent director. And why would anyone appoint you as such?  Both are good questions. But here are a few things to consider.  First, there is a huge scarcity of independent…

To answer the question in the subject line: The biggest benefits are, of course, money, prestige, and fame. I’ll tell you more about each of these. But let us start with the earnings.  The first thing you need to understand is that being an independent director is a part-time gig.…

Imagine that it’s November 2024. You are sitting in your first board meeting as an independent director in one of the top 100 companies listed on the BSE. The media has written about your appointment. They will write about the outcomes of today’s meetings as well. In fact, the press…

How can HR managers, compliance professionals and entrepreneurs become Independent Directors (IDs) on the board of a company?  What exactly does an ID do? What are the eligibility criteria to become an ID?  What is the nature of the self-assessment test that the majority of IDs now need to clear?…

Business disruptions or crises have historically been followed by a rise in fraudulent practices and corporate misgovernance. And Covid-19 has been the biggest business disruptor of our times.  A recent survey by Deloitte Touche Tohmatsu India LLP, in association with the Institute of Directors (IOD), has shown how Independent Directors…

Some 14 years ago, India’s corporate sector was put to a severe test. In 2009, we saw the unveiling of the biggest scandal in corporate India’s history with the Satyam Computer Services scam.  That scam is relevant to this discussion because it resulted in an unprecedented mass exodus of Independent…

Many mid-career or senior professionals realise that their career has plateaued. When they were young, they grew very fast, but that growth has now slowed down.  Your income, status or position grows 10-20% per year, 100-200% jumps don’t look feasible now. You earn well and are comfortable, but you are…