Securities And Exchange Board Of India - Subsection
Section 25(6) in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
(6)An independent director who resigns or is removed from the board of directors of the listed entity shall be replaced by a new independent director by listed entity at the earliest but not later than the immediate next meeting of the board of directors or three months from the date of such vacancy, whichever is later:Provided that where the listed entity fulfils the requirement of independent directors in its board of directors without filling the vacancy created by such resignation or removal, the requirement of replacement by a new independent director shall not apply.
