Proxy advisory firm InGovern has raised a red flag on the average tenure of independent directors and statutory auditors of top listed companies in India. About 22% of independent directors have served on their companies' boards for more than nine years and audit committees of only 45 companies are composed of 'only independent' directors, according to the firm's India Proxy Season 2012 Analysis special report, which has analysed the corporate governance structure and practices prevalent in top 100 companies forming part of the Nifty and Junior Nifty indices. The report also highlights the fact that the percentage of independent directors among the companies analysed was as low as 54%.

Source - http://www.financialexpress.com