Exiting the Echo Chamber: the Legal Dilemma Behind Independent Directors’ Resignations

Behind the polite veil of “personal reasons,” a storm is brewing in India’s boardrooms. Independent directors are resigning at record levels, often at moments of crisis. From Satyam to Gensol, their exits highlight the fragile state of governance, where oversight is symbolic and promoter dominance prevails. This article unpacks the red flags behind these discreet departures, SEBI’s regulatory push for transparency, and the urgent need to empower directors before the promise of independence collapses into mere formality. This is relevant to all the sectors.