The Board of Directors of a company plays a crucial role in providing leadership to the company. It is also known as the governing body, and is expected to provide directions to the efforts of management. It is also responsible for safeguarding the interests of various stakeholders of the company. For the Board to be....
With the increase in the number of start-ups in India in the past few years, there is also a need to have enough checks and balances to ensure that these entities are run properly. With voluntary implementation of sound Corporate Governance practices, the doors to sustainable growth and economic prosperity for such companies will open....
Succession planning is the process of identifying and developing employees who can fill key positions in a company, when there is a vacancy, whether planned or unplanned. An efficient process ensures that the business continues to operate efficiently at all times and does not suffer following the exit of any person. It starts with identifying....
The Board of Directors plays a vital role in the overall functioning of a company. Hence the composition of the Board is crucial. Board composition, including its size, its independence and diversity, are essential aspects while deciding the composition. The Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) have mandated....
India, like every other country, has different types of companies, varying in size, complexity, and ownership structure. In every country, standards of corporate governance have been evolving. India follows a rule-based approach to corporate governance, while simultaneously laying down principles. Consequently, failure to follow rules results in many companies facing actions from the regulatory authorities.....
Gatekeepers of Governance 2024, the 9th Annual 2 day Corporate Governance Summit, was held on November 21-22, 2024 at the Trident Hotel, Bandra Kurla Complex, Mumbai. It brought together leaders to address challenges and opportunities in the area of corporate governance. Organized by Excellence Enablers Private Limited, this prestigious event served as a platform to....
It is essential for companies to have a sound Corporate Governance structure, and processes related thereto, to function effectively, responsibly and ethically. This promotes transparency, accountability, and fairness. Regulators play an important role in ensuring that companies function in a proper manner, such that interests of all stakeholders are protected. It is the role of the Regulators....
Audit Committee (AC) is the oldest, and one of the most important Board level committees. It is considered to be the most important committee because its key roles involve recommending of financial statements for approval, interaction with Statutory and Internal Auditors, ensuring existence of proper internal controls, and approval of related party transactions (RPTs). With....
Whistleblowing mechanism relates to reporting of a suspected wrongful act or misdoing within a company. In India, it is mandatory for companies to have such a mechanism, and to give access to its stakeholders to report a wrongdoing, without the fear of victimisation. It plays a critical role in corporate governance, by promoting accountability of....