Confederation of Indian Industry (CII) proposed that there is a need for legal and procedural protections for independent directors to mitigate risks and exempt independent directors from vicarious criminal liability because they are not involved with the day-to-day operation of the company. The increasing obligation of independent directors has resulted in several resignations and has influenced the availability of talented IDs for board-level roles.

In addition, the CII proposed to raise the threshold of the fine for disqualification from being appointed as managing director or full-time director from Rs 1,000 to Rs 1 lakh.

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