Independent Directors

Corporate governance improves, but India Inc must go beyond compliance

The survey showed 44 per cent of the Nifty 100 companies had between 50 and 74 per cent of NEDs, up from 35 per cent in FY21

Compensation paid by companies to independent director continues to rise

Steady growth in the number of companies paying a sitting fee of Rs 100,000 or more per board meet

Top 10 Emerging Directors of the Month: Directors' Institute Highlights

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Castrol India appoints Rakesh Makhija chairman as R Gopalakrishnan exits

Castrol India announced that Satyavati Berera will join the board as an Independent Director and Chairperson of the Audit Committee, effective October 1

Fate of Religare's open offer is with the regulators: Rashmi Saluja

Saluja discusses the Ingovern report, the uncertainties surrounding the open offer, and the company's future

Independent directors' pay at Nifty-50 companies surges 106% since FY19

The median compensation for independent directors at Nifty-50 companies increased by 106 per cent, reaching Rs 87.4 lakh in FY24, up from Rs 42.3 lakh in FY19

DLF appoints 1981 batch-IRS officer Mahender as independent director

DLF Ltd has appointed Mahender Singh as independent director for a period of five years. In a regulatory filing, the company informed that the board of directors approved, the appointment of Mahender Singh as an independent director for a period of five consecutive years with effect from August 7, 2024. This is subject to the approval of the shareholders. Singh, who holds a master's degree in English, is an IRS (Customs and Central Excise) officer of the 1981 batch. With a career spanning 37 years, he has held various important positions in direct Taxation i.e. Customs, Central Excise and Service Tax. He superannuated as Member (GST), Central Board of Indirect Taxes and Customs in December 2018. In March 2019, Singh was appointed as Member of the first Lokpal of India. He superannuated in March 2024.

Meesho strengthens board with appointment of four independent directors

Meesho's new board members are expected to play a key role in advancing its strategic goals

Special course to help independent directors read financial statements

Training by the Indian Institute of Corporate Affairs is expected to help improve compliance

Companies finding innovative ways to rotate independent directors

Rotation within group firms, replacing father with sons, and roping in ex-staffers among innovative ways used by companies to replace independent directors (IDs)

From RIL to Adani Power, top firms see cessation of independent directors

Industry experts said many companies have already onboarded new independent directors or are in the process of doing so

Pallavi Shroff refuses second term as Asian Paints' Independent Director

Pallavi Shroff, the Managing Partner of leading law firm Shardul Amarchand Mangaldas & Co, has refused a second term as an independent director of Asian Paints, amidst concerns raised by a proxy firm. Shroff has informed the Board of Directors of Asian Paints that "she will not be able to continue for a second term of appointment as an Independent Director of the company, on account of several new projects that her firm has undertaken leading to enhanced professional and time commitments". She has also confirmed that there are no other material reasons for her non-continuation, according to a recent regulatory filing by the leading paints maker. Earlier, the board of Asian Paints had approved the reappointment of Pallavi Shroff as an independent Director for a second term of two years from April 1, 2024, to March 31, 2026. The company has also issued a Postal Ballot notice on January 17, 2024, to seek approval from its shareholders for the re-appointment of Shroff. E-voting had ...

Independent director Manju Agarwal quits Paytm Payments Bank board

"We hereby submit that PPBL is our associate entity and this event is not deemed material for the company and does not impact the operations/business of the company," OCL said

Legal safeguards for independent directors vital to attract top talent

CII has suggested that proceedings against IDs may be initiated only once there is prima facie evidence of their possible involvement in the matter, rather than as a matter of course

TMS Ep554: 70-hr work week, Delhi choking, Mamaearth, whole-time directors

Is Narayana Murthy's 70-hour work week a fair ask? Why is Delhi choking? Should you subscribe to the Mamaearth IPO? Who are whole-time directors? All answers here

ReNew makes strategic appointments to its independent board of directors

The appointment of Paula Gold-Williams, Nicoletta Giadrossi, and Philip Graham New as non-executive independent directors aims to increase gender diversity of the independent board

Corporate family feuds and the critical role of independent directors

IDs can play a vital role during family disputes by promoting corporate governance, ethical conduct, ensuring strict compliance and controls, and resolving conflicts fairly and equitably

Dish TV minority shareholders seek EGM, removal of 2 independent directors

A group of minority shareholders of Dish TV has sent a notice to call an Extraordinary General meeting (EGM) of the direct-to-home service provider, raising concerns over corporate governance issues, seeking reconstitution of the board and removal of two independent directors questioning their independence. The notice sent by 77 shareholders of Dish TV, representing 10.15 per cent shareholding, proposed to nominate K Badri Narayanan, Satis Kumar Yanmandra, Jeet Sen Gupta as independent directors on the board of the Essel Group firm. Besides, it has also sought the removal of two independent directors -- Shankar Aggarwal and Rashmi Aggarwal -- from the board of the company. "The existing independent directors have a long-term association with Dish TV and Essel group which cast doubt over their independence," the shareholders wrote in the notice. Dish TV is embroiled in a tussle between its largest shareholder Yes Bank Ltd (YBL) and the promoter family led by its former chairman Jawa

India Inc registers surge in independent directors quitting their jobs

IDs are responsible for both legal and regulatory obligations. They can raise red flags and register their disagreement on board matters

PTC India appoints 3 former IAS officers as independent directors

Power trading solutions provider PTC India has appointed three retired officers of the Indian Administrative Service (IAS) as independent directors of the company. The company has also appointed Mahendra Kumar Gupta as a nominee director of NHPC. In a statement, PTC India informed about the appointments of Rashmi Verma, Jayant Dasgupta and Narendra Kumar as independent directors of the company with effect from Thursday. The appointments are subject to the approval of the shareholders, it stated. Rajib K Mishra, Chairman & Managing Director, PTC India, said: "We are delighted to welcome the three new independent directors having credible experience and impeccable career record." Rashmi Verma, a former IAS officer from 1982 batch, has 36 years of experience in various sectors, including tourism and textiles. In over 37 years of experience, Dasgupta, a 1981-batch retired IAS officer, has served as chief adviser to Bihar State Planning Board and ambassador to the World Trade ...