"This issue of Kampani is related to a non-banking finance company (NBFC), which is regulated by RBI. Moreover the provisions of the Andhra Pradesh Deposit Taking Companies Act have been invoked. The present Companies Act does not distinguish between independent directors and other directors. So Kampani's problems is a multifarious one," Gupta said. “People depositing money in an NBFC or in a company see the name of the celebrities, even film stars and cricketers and they think that nothing can go wrong with such companies. An independent director has to have integrity, reputation and no direct or indirect vested interest in the company's affairs,” he added.
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