 "Why, how, and to what extent AI could enter the decision-making boardroom?")
Corporate India is heaving a sigh of relief. In emphatic iteration, the Ministry of Corporate Affairs (MCA) issued last week, a “standard operating procedure” directing that legal proceedings for non-compliance with company law must not be routinely taken up against independent directors and non-executive directors.
Titled “clarification” on prosecutions filed or adjudication proceedings initiated against such persons, the circular makes it clear that the key managerial personnel and whole-time directors who are associated with managing the day-to-day functioning of a company must be liable for defaults of a company. While one can think of this as a welcome development,
Titled “clarification” on prosecutions filed or adjudication proceedings initiated against such persons, the circular makes it clear that the key managerial personnel and whole-time directors who are associated with managing the day-to-day functioning of a company must be liable for defaults of a company. While one can think of this as a welcome development,
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