BS EDIT: Progress in corporate governance: A look at Nifty 100

Improving board structures

Average board size rose from 9.86 (FY21) to 10.52 (FY24); 61% of Nifty 100 firms have 9-13 directors, with better compliance to Sebi norms

Non-executive and independent directors

44% of firms have 50-74% non-executive directors; 96% meet or exceed the one-third independent director norm, reflecting better compliance

Inclusion of women on boards

Women directors in Nifty 100 rose to 200 in FY24; 74% are independent, but they hold just 20% of total board positions, highlighting gender disparity

Gaps in best practices

Only 61% of firms split chairman and MD roles; gender diversity lags despite compliance, highlighting gaps in adopting best practices

Spirit of governance

True governance needs independent directors with autonomy to prevent crises like Satyam and IL&FS, moving beyond mere compliance

A call for managerial reform

Director accountability and governance reforms can boost resilience, trust, and unlock growth for India Inc's stability and future success