The Confederation of Indian Industry (CII), the chief architect of the corporate governance initiative in the country, has decided to accord a major push to corporate governance in the coming days and has lined up a slew of initiatives to that effect.
CII has just begun offering corporate governance advisory services to its members and is set to undertake a comprehensive review of its code on governance in the year 2000.
Another major initiative CII is taking up is to coordinate with the Securities and Exchange Board of India (Sebi), the Bombay Stock Exchange (BSE) and the National Stock Exchange to try and draw up guidelines on corporate governance and making that a precondition for listing corporates on the stock exchanges. Sebi has already constituted a panel on the issue, and CII is pushing for making its recommendations a mandatory precondition for corporates to get listed.
Already, CII has set up a corporate governance follow-up committee of chief executives, which is chaired by Infosys boss N R Narayana Moorthy, which will initiate follow-up action on corporate governance among CII's 3500 members.
"We are going to undertake a major push for corporate governance in the coming days. Even if the top 200 companies become compliant with the CII code voluntarily, it will change the face of
