Union Minister of State for Law P P Chaudhary today said independent directors are watch persons of corporate entities. <br/><br/>He was addressing the newly appointed Independent Directors of Public Sector Banks and Public Sector Undertakings at Manesar in Gurugram.<br/><br/>He said, it is high time to conduct such orientation programmes for Independent Directors on a regular basis on various provisions, eventually leading to better accountability. <br/><br/>The Minister said Independent Directors impart balanced view along with transparency and credibility. The two most important functions of them are in advisory and monitoring capacity. They are systemically crucial in monitoring internal financial controls.<br/><br/>Mr Chaudhary appreciated the spirit behind organising the Conference aimed at capacity development of Independent Directors, since they play a crucial advisory role to ensure integrity and professional conduct in companies. <br/><br/>Referring to the Section 150 of the Indian Companies Act, 2013, he shared the Central Government is seriously considering to develop a data base of Independent Directors at Indian Institute of Corporate Affairs.