MCA floats a new testing proposal to filter frivolous independent directors

The Ministry of Corporate Affairs has proposed a new testing system for independent directors of a company. This has been entrusted with the Indian Institute of Corporate Affairs, which shall provide a portal for registration and administer the test. According to a senior government official, this shall help increase the pool of qualified persons. Others say it is to keep a check on frivolous appointments which have previously led to massive corporate misgovernance cases. But how do laws regarding independent directors in India pan out vis-a-vis other nations? Geetika Srivastava gives an insight