Board Composition in India

In various countries as per legal framework the board comprises executive,
non-executive/independent, nominee directors, associate directors and a couple
of other directors. In India as per clause 49 of the listing agreement, the
Board of Directors (BOD) of the company shall have an optimum combination of
executive and non-executive directors with not less than fifty percent of the
board of directors comprising of non-executive directors. If the chairman of
the Board should comprise of independent directors and in case he is an
executive director, at least half of the Board should comprise of independent
directors.