 "(L-R) Ajay Tyagi, Chairman, SEBI, with the Report of the Committee on Corporate Governance from Uday Kotak, Chairman of the Committee")
The Securities and Exchange Board of India (Sebi) panel’s many suggestions on corporate governance are prescriptive in nature, presenting a risk that companies might undertake a ‘tick-box’ approach for compliance, proxy advisor InGovern said on Friday.
The high-level committee, headed by banker Uday Kotak, has recommended major overhaul of corporate governance norms for listed companies and the report has been put up for public consultation. The proxy firm believes that listed companies may not adopt the spirit. To avoid this, it suggested that recommendations should be categorised into two codes — Code of Acceptable Governance and Code of Desirable Governance —
