law: Companies Act, 2013 
  150.
  
    Manner
  
  of selection of independent directors and maintenance of databank of
  
  independent directors.
  1.      Subject to the
  
  provisions contained in sub-section (5 ) of section 149, an independent
  
  director may be selected from a data bank containing names, addresses and
  
  qualifications of persons who are eligible and willing to act as independent
  
  directors, maintained by any body, institute or association, as may by notified
  
  by the Central Government, having expertise in creation and maintenance of such
  
  data bank and put on their website for the use by the company making the
  
  appointment of such directors:
  Provided
  
  that responsibility of exercising due diligence before selecting a person from
  
  the data bank referred to above, as an independent director shall lie with the
  
  company making such appointment.
  1.     
  2.      The appointment of
  
  independent director shall be approved by the company in general meeting as
  
  provided in sub-section (2 ) of section 152 and the explanatory statement
  
  annexed to the notice of the general meeting called to consider the said
  
  appointment shall indicate the justification for choosing the appointee for
  
  appointment as independent director.
  3.      The data bank referred
  
  to in sub-section (1), shall create and maintain data of persons willing
  
  to act as independent director in accordance with such rules as may be
  
  prescribed.
  4.      The Central
  
  Government may prescribe the manner and procedure of selection of independent
  
  directors who fulfil the qualifications and requirements specified under
  
  section 149.