"As far as government is concerned we are in the process of legislating one-third directors to be independent," Komal Anand, secretary, ministry of company affairs said in New Delhi at a corporate governance seminar organised by CII.
The revised bill will be introduced in Parliament for legislation in April to get it passed, Anand said.
She said the change is required to keep pace with time so that it can serve as an effective vehicle for the flourishing industry to become internationally competitive.