Review of Corporate Governance Norms in India

On 13th February 2014, SEBI Board approved the following proposals, which will take effect from Oct 1, 2014:

(i) Exclusion of nominee Director from the definition of Independent Director
(ii) Compulsory whistle blower mechanism
(iii) Expanded role of Audit Committee
(iv) Prohibition of stock options to Independent Directors
(v) Separate meeting of Independent Directors
(vi) Constitution of Stakeholders Relationship Committee
(vii) Enhanced disclosure of remuneration policies
(viii) Performance evaluation of Independent Directors and the Board of Directors
(ix) Prior approval of Audit Committee for all material Related Party Transactions (RPTs)
(x) Approval of all material RPTs by shareholders through special resolution with related parties abstaining from voting
(xi) Mandatory constitution of Nomination and Remuneration Committee. Chairman of the said committees shall be independent.
(xii) At least one woman director on the Board of the company
(xiii) It has been decided that the maximum number of Boards an independent director can serve on listed companies be restricted to 7 and 3 in case the person is serving as a whole time director in a listed company.

HOW CAN RISKPRO HELP

1. Riskpro can develop your Whistle Blower Policy and related code of conduct, ethics policy and fraud risk management policies.
2. Review of corporate governance framework and suggestions for enhancement.
3. Riskpro has a large database of Independent Directors from different industries who can come on board and help the company to grow. these resources can also be used as advisors, consultants or just as directors on the Board.
4. Board Evaluation and Training - Best practices in Corporate Governance suggests that it is important to have regular board evaluation and trainings.
5. Board performance evaluation is one of the most important elements of a good Corporate Governance. The Board evaluation process is designed to provide Directors with an opportunity to examine board effectiveness and make suggestions for improvement.

Risk Category: 

Other Services of Interest

  • HIPAA Awareness Training (Mandatory) - Riskpro India

    EVENT OVERVIEW: HIPAA stands for the Health Insurance Portability and Accountability Act and is a US regulation that deals with security measures for protecting patient’s medical records. Employees...
  • SEBI's Insider Trading Amendment - Free Webinar by Riskpro India

    Another important compliance topic that kicks off today. SEBI Amendment to Insider Trading Regulations. Join us for an hour to learn the important changes and how to deal with these. Register -...
  • Sox Training

    Our sox training covers the following points. 1. What is SOX? 2. The Act and its Sponsorors. 3. The background for bringing in this act. 4. Major Sections in the Act 5. Section 404 overview 6...
  • EUC Risks : Manage Spreadsheet risks - Riskpro India

    EVENT OVERVIEW Uncontrolled and untested spreadsheet models pose significant business risks. These risks include: lost revenue and profits; mispricing and poor decision making due to prevalent but...
  • 1 Day AML Training by Riskpro India - Mumbai

    Training event in Bangalore on Anti Money Laundering (AML) and KYC “Are we doing enough to protect integrity of Indian financial sector?” Banks face growing costs to comply with AML requirements...
  • Risk Management Software - Riskpro India's solution for Automating Risk Management

    Riskpro India finally offers small and mid enterprises a risk management tool that helps them to manage risks effectively. To request a 30 days trial, please contact info@riskpro.in Why is Risk...
  • EU-US Privacy Shield for Data Transfers

    Come GDPR (General Data Protection Act) and EU-US PRivacy shield will assume more importance. Privacy Shield Overview The Privacy Shield program, which is administered by the International Trade...
  • Reduce your GDPR implementation Costs - Hire GDPR Experts in India

    Reduce cost for GDPR Compliance - Remote Consulting from India GDPR readiness assessment and implementation can be costly. And time is short. Instead of paying premium fees to local GDPR consultants...
  • Riskpro India on top of Emerging Risks that bother you

    Riskpro India is well positioned to offer advisory services for emerging risks such as Data Protection (GDPR), information security, assurance services such as Third party risk management, internal...
  • Go to top