Independent Directors: The Global Perspective

The role or failure of independent directors in preventing corporate scandals became one of the central themes in corporate governance in India, and when SEBI issued a Consultation paper proposing a dual approval process for appointment of independent directors, there was a substantial concern among leading companies in the country. Following discussions, SEBI board has eventually decided to drop the proposal for dual approval, and instead, go for approval by a special majority.The role or failure of independent directors in preventing corporate scandals became one of the central themes in corporate governance in India, and when SEBI issued a Consultation paper proposing a dual approval process for appointment of independent directors, there was a substantial concern among leading companies in the country. Following discussions, SEBI board has eventually decided to drop the proposal for dual approval, and instead, go for approval by a special majority.taxmann.com Latest ArticlesRead More

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