Ethical, fair directors will help grow economy: Justice Sikri

Ethical behaviour of corporate directors will help companies achieve value addition which in turn will contribute to the growth of nation's economy, Supreme Court judge A K Sikri has said.
He was speaking at the launch of a book 'Corporate Directors Roles, Responsibilities, Powers and Duties of Directors' penned by advocate Ashish Makhija.
"Company directors owe ethical and moral duty in running a company in an efficient and fair manner. After globalisation and liberalisation, the companies are expected to contribute more to the economy of the nation.
"Fairness in action has to be there in managing the company as it is the principle now," Justice Sikri said.

Delhi High Court judge Manmohan, who also attended the event, was all praise for the new Companies Act, 2013, which included a new provision for employing women directors on the Boards of certain class of companies.
"To promote diversity, to promote gender equality, I think it's a very good concept of introducing woman directors," he said, adding, the new Act increases responsibilities of the directors.
The book aims at providing clarity on the legal provisions of Corporate Social Responsibility and their practical implications through its various chapters. It discusses key developments in the areas of Related Party Transactions, disclosure requirements, employing women directors and corporate social responsibility.

Author Makhija is the Managing Attorney of AMC Law Firm and is also the Standing Counsel for the Official Liquidator (Ministry of Corporate Affairs, Government of India) attached to the Delhi High Court.