Independent Directors

Mid-term exits by independent directors at highest level since 2017

Many from companies with less than ₹100 crore in mcap

Companies flouting ID requirement rise in FY25: Excellence Enablers survey

Excellence Enablers survey finds 16 Nifty 100 companies flouting independent director rules in FY25, with PSUs and PSBs dominating non-compliance cases

HCLTech names ex-G20 Sherpa Amitabh Kant as independent director for 5 yrs

Amitabh Kant will serve as HCLTech independent director from Sept 2025 to Sept 2030; company says he has no ties with its directors and is not barred by Sebi or other authorities

Best of BS Opinion: Land reforms, nuclear energy can power Indian economy

Today's Opinion page traverses the regulatory landscape, from land reforms to nuclear power, corporate governance to government divestment and comes away with deep insights into all

Not just 'friendly critics': Independent directors need more accountability

This era of the sinecure may be changing, however, with Sebi and the courts increasingly holding independent directors liable for corporate malfeasance

Closer scrutiny of independent directors likely amid IndusInd Bank row

RBI's vetting process may become more intense as banking industry looks for people skilled to be 'effective board members'

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

Compensation paid by companies to independent director continues to rise

Steady growth in the number of companies paying a sitting fee of Rs 100,000 or more per board meet

Top 10 Emerging Directors of the Month: Directors' Institute Highlights

.

Castrol India appoints Rakesh Makhija chairman as R Gopalakrishnan exits

Castrol India announced that Satyavati Berera will join the board as an Independent Director and Chairperson of the Audit Committee, effective October 1

Fate of Religare's open offer is with the regulators: Rashmi Saluja

Saluja discusses the Ingovern report, the uncertainties surrounding the open offer, and the company's future

Independent directors' pay at Nifty-50 companies surges 106% since FY19

The median compensation for independent directors at Nifty-50 companies increased by 106 per cent, reaching Rs 87.4 lakh in FY24, up from Rs 42.3 lakh in FY19

DLF appoints 1981 batch-IRS officer Mahender as independent director

DLF Ltd has appointed Mahender Singh as independent director for a period of five years. In a regulatory filing, the company informed that the board of directors approved, the appointment of Mahender Singh as an independent director for a period of five consecutive years with effect from August 7, 2024. This is subject to the approval of the shareholders. Singh, who holds a master's degree in English, is an IRS (Customs and Central Excise) officer of the 1981 batch. With a career spanning 37 years, he has held various important positions in direct Taxation i.e. Customs, Central Excise and Service Tax. He superannuated as Member (GST), Central Board of Indirect Taxes and Customs in December 2018. In March 2019, Singh was appointed as Member of the first Lokpal of India. He superannuated in March 2024.

Meesho strengthens board with appointment of four independent directors

Meesho's new board members are expected to play a key role in advancing its strategic goals

Special course to help independent directors read financial statements

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

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)

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

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 ...

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

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