Following the enactment of regulations mandating the presence of Independent Directors and company Boards, companies listed in India have made considerable efforts to recruit such individuals. While this may have started as an exercise in compliance, it has, over the years, evolved into a self-motivated effort to improve the quality and authority of Boards. However, IMA’s analysis, drawn from its recently published 2020 Executive and Board remuneration report, which analyses Board compensation and non-compensation parameters for over 1800 companies and 16,600 directors, finds that many companies still fall short of the regulatory norms on this count. The podcast offers an analysis.