Noting that India was deficient by over 26,000 independent directors and around 2500 women directors to fill the boards of companies, induction of new breed of independent directors will change the facets of corporate governance, an Institute of Directors official said.
Induction of new directors with competencies in areas like innovation, sustainability and corporate social responsibility will change the facets of Corporate governance in the country, Institute of Directors President J S Ahluwalia said today at an even here.
"Despite a handful of high profile female Indian entrepreneurs, the proportion of female directors was a meager 5.2 per cent, which is even below the developing world percentage of 7.2," he said while addressing the three-day Master Class for Directors for women directors in association with the CII, Kerala chapter.
The government through The new Companies Act, 2013, has made it mandatory for all listed companies from this fiscal to have one third of its board strength to be filled with independent directors and at least one lady independent director.
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Refractory Bricks from Palakkad to Mexico by air * A consignment of 98,505 kg of Alumina fused cast refractory bricks, which has very high heat resistance power, were airlifted from the International airport here today to Mexio.
The single consignment of bricks was exported by a special cargo freighter from here, an airport release said.
The shipment of 65 palletized pieces of Refractory Bricks from Kanjikode factory in Palakkad district was transported to Nedubassery in trailers by the Chennai based leading Freight forwarder DSV Air & Sea Pvt. Ltd.
Refractory bricks, which has very high heat resistance are used in making inner linings of heavy furnaces.
The consignment was carried by Michigan based US company Kalitta Air's B 747 Jumbo freighter.
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Ajit Chordia elected as CREDAI Chennai Prez * Managing Director of Chennai-based Khivraj Tech Park, Ajit Chordia was appointed as President, Confederation of Real Estate Developers Association of India (CREDAI) Chennai chapter, here recently.
Ramky Wavoo Developers, Managing Director, Habib was appointed as Secretary, CREDAI Chennai with immediate effect, in the presence of CREDAI National President C Shekar Reddy, CREDAI said in a statement.
The newly elected officials would be on a two year term till 2016, it added.
