Indian corporate boards not really independent: Local Circles survey

A survey conducted by Local Circles, a pollster and community social media platform, among more than 21,000 shareholders located across 272 districts of India on issues of corporate governance in the country, showed that most of them believed that the constitution of the Board of directors of most Indian corporates is tilted towards promoters, as many independent directors are not really independent and that a majority of independent directors in publicly traded Indian firms are not acting to protect the interest of minority shareholders.