The Chief Executive Officer (CEO) and the Chief Financial Officer (CFO) are very important positions in the corporate structure of an organization. Both are Key Managerial Personnel (KMPs), with defined roles and responsibilities, under the Companies Act, 2013. The CEO is the highest-ranking executive in a company. His primary responsibilities include making major corporate decisions,....
Board meetings are meetings where the Directors of a company meet in order to take important decisions which impact on the future of the company. A company is a legal entity, and the Board of Directors is the apex body which makes decisions on behalf of the company. To make Board meetings productive, and to....
A position on the Board of Directors of a company is very high on the wishlist of many persons. Though joining a Board can bring rewards and opportunities, it can also come with many risks. We outline some of the key questions that all Directors, especially Independent Directors, should ask while evaluating a Board that....
Who is a Compliance Officer? A Compliance Officer is a senior employee of the company, who ensures that the company is in compliance with all laws and regulations that are applicable to it. A Compliance Officer must have a thorough knowledge of the company, and its business(es), and a clear understanding of the areas where....
The word “whistleblower” owes its origin to the practice of blowing of whistles by policemen in England, whenever they observed any crime or any attempt at crime. In Corporate Governance parlance, whistleblowing refers to inviting the attention of a company’s top management or any committee to some wrongdoing in the company such as fraud or....
Corporate governance regulations and guidelines in many jurisdictions recommend that the positions of the Chair and the CEO should not be occupied by the same individual. A number of jurisdictions also recommend that the Chair of the Board should be an ‘independent’ director. However, this recommendation is not always followed. In situations, wherein the Chair....
Every public corporation in India is required to have a Board of Directors (Board), which is tasked with overseeing management’s activities and protecting the interests of the company’s shareholders, and other stakeholders. The Board comprises a Chairperson, a Managing Director, Executive Director(s) and Non-Executive Directors. The Chairperson heads the Board. She/ he is first among....
What is an AGM? An AGM is an annual meeting at which the shareholders of the company get to interact with the Board of Directors and the management of the company. It is the forum where the shareholders can ask questions regarding the company and its performance. Prior to this meeting, an annual report containing....
Following the discussion paper on Governance in Commercial Banks in India issued, in June, 2020, Reserve Bank of India (RBI) has issued new guidelines for the compliance function in banks and the role of Chief Compliance Officer (CCO). The objective is to bring uniformity in approach followed by banks, as also to align the supervisory....
Diversity- Simply stated, diversity means variety. People with different opinions, backgrounds (educational and social), religious beliefs, political beliefs, sexual orientations, heritage, and life experience are examples of diversity. There is no denying the fact that many companies have benefited significantly from the variety of opinions that persons of diverse backgrounds bring to the table. Since diversity,....