Corporate governance improves, but India Inc must go beyond compliance

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

India Inc appears to be steadily improving its compliance with statutory governance standards. The fifth edition of the Excellence Enablers Survey (EES) on Corporate Governance in Nifty 100 companies shows on various parameters companies have steadily aligned with standards stipulated by the Companies Act and the Securities and Exchange Board of India (Sebi). Board sizes are one index. Given that listed companies need to have five mandatory committees — on remuneration, audit, human resources and so on — companies need to ensure that there are sufficient board members so that the same member does not serve on multiple committees. The