Sebi plans change in rules for appointment of independent directors The regulator plans to introduce the dual-approval system for the appointment and removal of independent directors PTI | March 1, 2021 | Updated 23:30 IST The Securities and Exchange Board of India The Securities and Exchange Board of India has proposed sweeping changes to rules governing independent directors, including norms that pertain to their appointment and removal, eligibility criteria and remuneration structure. The regulator plans to introduce the dual-approval system for the appointment and removal of independent directors. This requires the majority of all shareholders as well as the majority of minority shareholders, other than the promoter and promoter group, to approve the appointment and removal of such directors.