 "PSUs")
Public sector undertakings (PSUs) have a terrible record of compliance with the corporate governance norms spelt out by the Securities and Exchange Board of India (Sebi).
Since the erstwhile clause 49 of the listing agreement came into existence over a decade ago, instances of non-compliance have been reported.
A chronic compliance problem has persisted, even after the listing conditions got the status of regulation, in the area of appointing independent directors. Most public sector enterprises have continued business without an adequate number of independent directors.
A reason attributed to this problem is the stringent qualification criteria established
Since the erstwhile clause 49 of the listing agreement came into existence over a decade ago, instances of non-compliance have been reported.
A chronic compliance problem has persisted, even after the listing conditions got the status of regulation, in the area of appointing independent directors. Most public sector enterprises have continued business without an adequate number of independent directors.
A reason attributed to this problem is the stringent qualification criteria established
