The Hub serves you on monthly basis with dedicated sections on continued professional learning and helps you to emerge as the “Agents for Change” in the boards. The featured stories across various sections cover regulatory updates, corporate actions and experience sharing by Independent Directors.
Setting orients you about the IICA’s capacity building initiative during the COVID-19 crisis by way of conducting a series of Webinars/Virtual Master classes etc. To take this initiative forward, Power Panel on the topic “Role of Proxy Advisors in Corporate Governance Standards” was conducted on October 14, 2020. The programme was aimed to orient the Independent Directors (IDs) and aspiring Independent Directors about the various roles, which proxy advisors can play in achieving good corporate governance standards.
Vignettes showcase views and learning from experienced directors and/or reputed research institutions by referring to the outcomes of their research study/report. This edition of the newsletter presents the directors’ talk by Mr. Saurabh Chandra, Chairman, Multi Commodity Exchange of India Ltd (MCX) and Former Secretary to the Ministry of Petroleum and Gas, Government of India, on the topic “Maximizing Board Effectiveness & Engagement amid Pandemic”.
Regulatory Worktop, shares the key updates about the Suspension of initiation of fresh Corporate Insolvency Resolution Process (CIRP) proceedings by three months and Extension of time for Extraordinary General Meetings (EGM) through Video Conference (VC) or Other Audio Visual Means (OAVM) or passing of certain items only through postal ballot without convening general meeting.
The coverage also includes the Amendment of Companies (Meeting of Board and its powers) Rules, 2014; and the last section orients about the Amendment in Companies (Prospectus and Allotment of Securities) Rules, 2014.
Regulators Eye focus on the key updates relating to decriminalizing Companies Act provisions for fostering Ease of Doing Business and Tata Sons’ Articles of Association giving little choice to Mistry on deciding valuation according to Nawshir Mirza, a professional Independent Director. The coverage of focus spans across other updates relating to company boards can't act as judge, jury and defendant says co-founder of Infosys; Regulator imposes fine on National Stock Exchange for investing in unrelated business and SEBI announces framework to monitor foreign holding in Depository Receipts.
Some other important updates as viewed by the section includes Social Stock Exchanges may face disclosures hurdles; Twist in the re-appointment of Independent Director at Kirloskar Brothers Ltd. The penultimate section orients about the red flag raised on family owned Non-Banking Financial Companies and the last coverage discusses that crisis deepens in Lakhsmi Vilas Bank after seven directors voted out by shareholders.
Events Expo acquaints about various national and global upcoming events, programs, workshops, conferences, etc for participation of the members. Present issue is showcasing the opportunities to participate in an online programme on “Familiarization of Independent and Women Directors on Board” on November 26 - 27, 2020 to be organized by the Indian Institute of Corporate Affairs (IICA); and the four week programme on “Essentials of Leadership” starting from November 17, 2020 to be organized by the Indian School of Business (ISB).
At the global front, we can participate in The Institute of Directors (IOD), New Zealand’s presentation on “Building your governance CV” on November 23, 2020 and The Corporate Board Member’s 16th Annual Boardroom Summit on the topic “Strategic Governance in the Age of Disruption” on November 18-20, 2020.
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