Independent director

A board member with no material relationship to the company beyond the directorship, appointed to represent interests other than the controller's.

Indian rules set minimum proportions of independent directors and require them on key committees. A board of twelve with six independent directors meets a common configuration.

Independence in form and independence in fact are different things. Directors who have served for many years, who sit on several boards of the same group, or whose other business depends on the promoter, are independent by classification and rarely in behaviour.

Read the tenure, the other directorships and the attendance record. All three are disclosed.