Business Standard

Independent directors

Special course to help independent directors read financial statements

Training by the Indian Institute of Corporate Affairs is expected to help improve compliance

Special course to help independent directors read financial statements
Updated On : 25 Jun 2024 | 4:28 PM IST

Companies finding innovative ways to rotate independent directors

Rotation within group firms, replacing father with sons, and roping in ex-staffers among innovative ways used by companies to replace independent directors (IDs)

Companies finding innovative ways to rotate independent directors
Updated On : 09 May 2024 | 11:51 PM IST

From RIL to Adani Power, top firms see cessation of independent directors

Industry experts said many companies have already onboarded new independent directors or are in the process of doing so

From RIL to Adani Power, top firms see cessation of independent directors
Updated On : 04 Apr 2024 | 11:56 PM IST

Pallavi Shroff refuses second term as Asian Paints' Independent Director

Pallavi Shroff, the Managing Partner of leading law firm Shardul Amarchand Mangaldas & Co, has refused a second term as an independent director of Asian Paints, amidst concerns raised by a proxy firm. Shroff has informed the Board of Directors of Asian Paints that "she will not be able to continue for a second term of appointment as an Independent Director of the company, on account of several new projects that her firm has undertaken leading to enhanced professional and time commitments". She has also confirmed that there are no other material reasons for her non-continuation, according to a recent regulatory filing by the leading paints maker. Earlier, the board of Asian Paints had approved the reappointment of Pallavi Shroff as an independent Director for a second term of two years from April 1, 2024, to March 31, 2026. The company has also issued a Postal Ballot notice on January 17, 2024, to seek approval from its shareholders for the re-appointment of Shroff. E-voting had ...

Pallavi Shroff refuses second term as Asian Paints' Independent Director
Updated On : 27 Mar 2024 | 4:26 PM IST

Independent director Manju Agarwal quits Paytm Payments Bank board

"We hereby submit that PPBL is our associate entity and this event is not deemed material for the company and does not impact the operations/business of the company," OCL said

Independent director Manju Agarwal quits Paytm Payments Bank board
Updated On : 12 Feb 2024 | 9:28 PM IST

Legal safeguards for independent directors vital to attract top talent

CII has suggested that proceedings against IDs may be initiated only once there is prima facie evidence of their possible involvement in the matter, rather than as a matter of course

Legal safeguards for independent directors vital to attract top talent
Updated On : 05 Feb 2024 | 9:46 PM IST

TMS Ep554: 70-hr work week, Delhi choking, Mamaearth, whole-time directors

Is Narayana Murthy's 70-hour work week a fair ask? Why is Delhi choking? Should you subscribe to the Mamaearth IPO? Who are whole-time directors? All answers here

TMS Ep554: 70-hr work week, Delhi choking, Mamaearth, whole-time directors
Updated On : 01 Nov 2023 | 8:58 AM IST

ReNew makes strategic appointments to its independent board of directors

The appointment of Paula Gold-Williams, Nicoletta Giadrossi, and Philip Graham New as non-executive independent directors aims to increase gender diversity of the independent board

ReNew makes strategic appointments to its independent board of directors
Updated On : 24 Jul 2023 | 7:33 PM IST

Corporate family feuds and the critical role of independent directors

IDs can play a vital role during family disputes by promoting corporate governance, ethical conduct, ensuring strict compliance and controls, and resolving conflicts fairly and equitably

Corporate family feuds and the critical role of independent directors
Updated On : 27 May 2023 | 1:30 PM IST

Dish TV minority shareholders seek EGM, removal of 2 independent directors

A group of minority shareholders of Dish TV has sent a notice to call an Extraordinary General meeting (EGM) of the direct-to-home service provider, raising concerns over corporate governance issues, seeking reconstitution of the board and removal of two independent directors questioning their independence. The notice sent by 77 shareholders of Dish TV, representing 10.15 per cent shareholding, proposed to nominate K Badri Narayanan, Satis Kumar Yanmandra, Jeet Sen Gupta as independent directors on the board of the Essel Group firm. Besides, it has also sought the removal of two independent directors -- Shankar Aggarwal and Rashmi Aggarwal -- from the board of the company. "The existing independent directors have a long-term association with Dish TV and Essel group which cast doubt over their independence," the shareholders wrote in the notice. Dish TV is embroiled in a tussle between its largest shareholder Yes Bank Ltd (YBL) and the promoter family led by its former chairman Jawa

Dish TV minority shareholders seek EGM, removal of 2 independent directors
Updated On : 16 May 2023 | 4:53 PM IST

India Inc registers surge in independent directors quitting their jobs

IDs are responsible for both legal and regulatory obligations. They can raise red flags and register their disagreement on board matters

India Inc registers surge in independent directors quitting their jobs
Updated On : 20 Apr 2023 | 11:05 AM IST

PTC India appoints 3 former IAS officers as independent directors

Power trading solutions provider PTC India has appointed three retired officers of the Indian Administrative Service (IAS) as independent directors of the company. The company has also appointed Mahendra Kumar Gupta as a nominee director of NHPC. In a statement, PTC India informed about the appointments of Rashmi Verma, Jayant Dasgupta and Narendra Kumar as independent directors of the company with effect from Thursday. The appointments are subject to the approval of the shareholders, it stated. Rajib K Mishra, Chairman & Managing Director, PTC India, said: "We are delighted to welcome the three new independent directors having credible experience and impeccable career record." Rashmi Verma, a former IAS officer from 1982 batch, has 36 years of experience in various sectors, including tourism and textiles. In over 37 years of experience, Dasgupta, a 1981-batch retired IAS officer, has served as chief adviser to Bihar State Planning Board and ambassador to the World Trade ...

PTC India appoints 3 former IAS officers as independent directors
Updated On : 14 Apr 2023 | 6:07 PM IST

IPO-bound Swiggy names Delhivery chief, two others as independent directors

New appointments will strengthening governance, says food delivery platform

IPO-bound Swiggy names Delhivery chief, two others as independent directors
Updated On : 06 Feb 2023 | 4:42 PM IST

Dish TV appoints ex-bureaucrat Lalit Behari Singhal as independent director

Earlier this month, Dish TV had announced the appointment of three new independent directors to the company's board

Dish TV appoints ex-bureaucrat Lalit Behari Singhal as independent director
Updated On : 30 Dec 2022 | 1:10 AM IST

82% listed CPSEs don't have mandated independent directors: CAG report

Independent directors ensure integrity of financial information, report unethical behaviour

82% listed CPSEs don't have mandated independent directors: CAG report
Updated On : 29 Dec 2022 | 10:20 PM IST

Tata Power gets shareholder nod to appoint Mehrishi as independent director

Tata Power has received shareholders approval to appoint former Union home secretary Rajiv Mehrishi as an independent director on its board. The special resolution for the appointment of Mehrishi as an independent director was passed with requisite majority, according to a regulatory filing on Tuesday. Mehrishi is a retired Indian Administrative Service (IAS) officer of the 1978 batch belonging to the Rajasthan cadre and has a wide experience of over 42 years. He has served in various key posts in Union and Rajasthan governments. Among other positions, he has served as Union home secretary, was also the 13th Comptroller and Auditor General of India (C&AG). In 2022, he was awarded the Padma Bhushan.

Tata Power gets shareholder nod to appoint Mehrishi as independent director
Updated On : 13 Dec 2022 | 8:46 PM IST

New issue pricing onus may put independent directors in a spot: Experts

Experts feel Sebi diktat may deter those with non-financial background from joining boards

New issue pricing onus may put independent directors in a spot: Experts
Updated On : 18 Oct 2022 | 10:15 PM IST

Effective directors display the art of healthy scepticism

Independent directors add value to a company not only through their explicit knowledge and cognitive skills, but also through their experiential intuition and heuristic skills

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Updated On : 12 Oct 2022 | 12:57 AM IST

Former RBI deputy governor Kanungo, Kaushik Dutta join BharatPe board

Fintech unicorn BharatPe has appointed former RBI deputy governor B P Kanungo and TARI founder Kaushik Dutta as independent directors as it looks to strengthen governance rigour and transparency in the preparation of a listing. "Business is about to turn profitable in a few months and we are strengthening governance at the company by appointing independent directors," BharatPe CEO Suhail Sameer told PTI. The firm, which currently has nine directors on its board, is looking to have at least one-third of directors as independent directors, he said. Besides Sameer, co-founder Shashvat Nakrani is on the board as executive director. Investors have four nominees. The board is chaired by former SBI chairman Rajnish Kumar. BharatPe, he said, would look to go public in the next 2-3 years' time. "Post-2024 (general) elections should be a good period," he said. While Kanungo recently retired as Deputy Governor of the Reserve Bank of India, Dutta currently is the chairman and independent dire

Former RBI deputy governor Kanungo, Kaushik Dutta join BharatPe board
Updated On : 13 Sep 2022 | 3:52 PM IST

Retired SBI senior executive Natarajan Sundar joins NARCL as MD CEO

Karnam Sekar, Malvika Sinha named independent directors; NARCL Board now has 5 nominees from shareholder banks, one more independent director likely to join soon

Retired SBI senior executive Natarajan Sundar joins NARCL as MD CEO
Updated On : 31 May 2022 | 3:31 PM IST