as far as your query is concerned that Whether an independent director may continue to be so
appointed for a maximum period of 10 years, or whether he can continue to be an ID for maximum two terms,
even if each such term is less than 5 years.
Let me informed that MCA vide its clarification no. 14/2014 dated 9th June, 2014
has clarified that while appointment of an ‘Independent
Director’ for a term less than five years would be permissible,
appointment for any term (whether for five years or less) is to
be treated as a one term under section 149(10) for the Act.
Further, under section 149(11) of the Act, no person can hold
office of ‘ID’ for more than ‘two consecutive terms’. Such a
person shall have to demit office after two consecutive terms
even if the total number of years of his appointment in such
two consecutive terms is less than 10 years. In such a case the
person shall be eligible for appointment as ID only after the
expiry of the requisite cooling-off period of three years.
Hope answer was helpful to you
Arjun Pratap Singh