Salman Khursheed in New Delhi on Tuesday. Picture by Prem Singh

New Delhi, Nov. 17: The ministry of corporate affairs today said the responsibility of independent directors should be defined clearly.

“They should give disclaimers in writing that they know what their job is,” said corporate affairs minister Salman Khursheed at a seminar organised by Ficci.

The role of independent directors came into focus after the fraud at Satyam Computer early this year.

Independent directors are appointed on company boards to ensure fair play as they do not have any vested interests.

Khursheed said the directors should also know how many companies they could do justice to.

On high salaries in the corporate sector, Khursheed said the government did not want to play the role of a regulator.

“We do believe in essential freedoms in a democracy. The ultimate decision on managerial remuneration should rest with the shareholders and the board,” the minister said.