Directors' cut

Tighter corporate governance norms in the new Companies Act have sent companies on a frantic search for new independent directors. Tired with the hunt, India Inc recently explained its difficulties in finding good candidates to Securities and Exchange Board of India Chairman U K Sinha. But the stock market regulator was having none of it. "It is difficult to fathom that in a country of more than one billion, corporate India can't find a few hundred new independent directors," he pointed out.