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Can a Company appoint an independent director for a term of fewer than 5 years?

Yes, the appointment of an independent director for a term less than 5 years is permissible. However, any appointment whether of 5 or less will be regarded as ‘one term’. Section 149 clearly states that no person can hold office as an independent director for more than two consecutive terms. Thus, irrespective of the duration of each of th...

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