Companies need more neeti, less niyam

The key lies in training and aligning directors about the behavioural aspects of governance, not only about the laws

Last week, the director of GDJK delivered a rodomontade by reprimanding independent directors for failing small shareholders. For the unschooled, GDJK is Gambhir Dhokadhadi Janch Karyalaya, aka Serious Fraud Investigation Office. Though not free of weaknesses, independent directors serve as punching bags for pontificating speakers. 

Mythology instructs us about the perpetual tension among the devas (gods), asuras (demons) and praja (citizens). Mahishasura had won a boon that no man or animal could kill him, so he wantonly tormented the praja. Durga, the female form, was incarnated to kill Mahishasura. This is the story of the current Navaratri festival. Listed companies also