Independent Directors

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

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

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

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

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

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

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

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

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 ...

"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

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

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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

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

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

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

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 ...