An Independent Director is a Non-Executive Director, who (a) does not have any material relationship/ transaction with the Company, its Directors, Promoters, senior management, holding company and its subsidiaries, (b) Is not related to Promoters/Board/Senior Management, (c) Has not been an executive of the Company in the past legal/consulting firm in the past 3 years, (e) Has not been a material supplier, service-provider or customer or a lessor or lessee of the company, (f ) Is not a substantial shareholder i.e. owning 2% or more and (g) Is not less than 21 years of age.