Mr. Injeti Srinivas, Secretary, Ministry of Corporate Affairs has recently discussed various measures which the ministry has taken while implementing the provisions of the Companies Act, 2013 for developing Independent Directorship as a better institution of corporate governance. He has emphasized for having a strong cadre of independent directors with a more professional outlook considering them as a key to good corporate governance. The independent directors are being expected to perform in letter and spirit with a true sense of ‘Independence’ rather than seeking own comfort while engaging with boards. The Secretary has called upon the fraternity of Independent Directors for the realization of their importance in board effectiveness and good governance. He has further enumerated various initiatives the ministry has taken for advancing the agenda of securing higher standards of corporate governance forward.
As part of the initiatives, Secretary – Corporate Affairs has discussed one such initiative of developing the Independent Director’s Databank with support from the Indian Institute of Corporate Affairs (IICA). While discussing the goal of capacity building of Independent Directors in the centrality of the initiative, he has shared the updates about the traction this initiative has gained with the registration of more than 20,000 Independent directors so far.
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