Independent Directors

Excellence Enablers survey finds 16 Nifty 100 companies flouting independent director rules in FY25, with PSUs and PSBs dominating non-compliance cases

Amitabh Kant will serve as HCLTech independent director from Sept 2025 to Sept 2030; company says he has no ties with its directors and is not barred by Sebi or other authorities

Today's Opinion page traverses the regulatory landscape, from land reforms to nuclear power, corporate governance to government divestment and comes away with deep insights into all

This era of the sinecure may be changing, however, with Sebi and the courts increasingly holding independent directors liable for corporate malfeasance

RBI's vetting process may become more intense as banking industry looks for people skilled to be 'effective board members'

The survey showed 44 per cent of the Nifty 100 companies had between 50 and 74 per cent of NEDs, up from 35 per cent in FY21

Steady growth in the number of companies paying a sitting fee of Rs 100,000 or more per board meet

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Castrol India announced that Satyavati Berera will join the board as an Independent Director and Chairperson of the Audit Committee, effective October 1

Saluja discusses the Ingovern report, the uncertainties surrounding the open offer, and the company's future

The median compensation for independent directors at Nifty-50 companies increased by 106 per cent, reaching Rs 87.4 lakh in FY24, up from Rs 42.3 lakh in FY19

DLF Ltd has appointed Mahender Singh as independent director for a period of five years. In a regulatory filing, the company informed that the board of directors approved, the appointment of Mahender Singh as an independent director for a period of five consecutive years with effect from August 7, 2024. This is subject to the approval of the shareholders. Singh, who holds a master's degree in English, is an IRS (Customs and Central Excise) officer of the 1981 batch. With a career spanning 37 years, he has held various important positions in direct Taxation i.e. Customs, Central Excise and Service Tax. He superannuated as Member (GST), Central Board of Indirect Taxes and Customs in December 2018. In March 2019, Singh was appointed as Member of the first Lokpal of India. He superannuated in March 2024.

Meesho's new board members are expected to play a key role in advancing its strategic goals

Training by the Indian Institute of Corporate Affairs is expected to help improve compliance

Rotation within group firms, replacing father with sons, and roping in ex-staffers among innovative ways used by companies to replace independent directors (IDs)

Industry experts said many companies have already onboarded new independent directors or are in the process of doing so

Pallavi Shroff, the Managing Partner of leading law firm Shardul Amarchand Mangaldas & Co, has refused a second term as an independent director of Asian Paints, amidst concerns raised by a proxy firm. Shroff has informed the Board of Directors of Asian Paints that "she will not be able to continue for a second term of appointment as an Independent Director of the company, on account of several new projects that her firm has undertaken leading to enhanced professional and time commitments". She has also confirmed that there are no other material reasons for her non-continuation, according to a recent regulatory filing by the leading paints maker. Earlier, the board of Asian Paints had approved the reappointment of Pallavi Shroff as an independent Director for a second term of two years from April 1, 2024, to March 31, 2026. The company has also issued a Postal Ballot notice on January 17, 2024, to seek approval from its shareholders for the re-appointment of Shroff. E-voting had ...

"We hereby submit that PPBL is our associate entity and this event is not deemed material for the company and does not impact the operations/business of the company," OCL said

CII has suggested that proceedings against IDs may be initiated only once there is prima facie evidence of their possible involvement in the matter, rather than as a matter of course

Is Narayana Murthy's 70-hour work week a fair ask? Why is Delhi choking? Should you subscribe to the Mamaearth IPO? Who are whole-time directors? All answers here