Reforming corporate governance

Sebi should swiftly implement Kotak panel suggestions

Last week, a panel appointed by the market regulator, the Securities and Exchange Board of India (Sebi), submitted a report on how to reform and improve corporate governance in the country. The report of the committee, headed by banker Uday Kotak, in substance addresses its mandate on how to make company boards more effective. The committee has made several valuable suggestions intended to address such issues and protect small shareholders. The major recommendations are splitting the post of chairman and managing director, which will upset many large public and private companies; and asking for an additional shareholder-level approval for special