He shall at the first meeting of the Board in which he participates as an ID and thereafter at the first meeting of the Board in every financial year or as and when there is a change in circumstances, which may affect his status as an ID, submit a declaration to the Board that he meets the criteria of independence specified under Section 149(6) of the Act.
He shall disclose any direct or indirect interest, which he may have in any matter being considered at a board meeting or committee meeting and, save as permitted under the Articles of Association of the Company, he shall not vote on any resolution of the Board, or of any of its committees, on any matter where he has any direct or indirect interest.
Unless specifically authorized to do so by the Board, he shall not enter into any legal or other commitment or contract on behalf of the Company.
He shall not hold office:
as a director (including as an alternate director) in more than twenty Companies at the same time;
as a director in more than ten public Companies at the same time; and
as an ID in more than seven listed companies at the same time (provided however, that in case he holds office as a whole time director in a listed company then he shall not hold office as an ID in more than three listed Companies).