The Hub June 2021, monthly e-newsletter from Independent Directors’ Databank gives you a broad view of developments happening around Regulatory framework, Corporate world among other updates.
The featured stories in various sections cover regulatory updates, corporate actions and experience sharing by Independent Directors.
The foundation of a public company’s corporate governance is its board of directors. Functioning in a fiduciary capacity for the corporation and its shareholders, the board is a company’s primary supervisory body and the apex of its decision and control system. How effectively a board performs its obligations depends to a great extent on how it is comprised. Because a board of directors is a governing body that is designed to work together as a team, its performance will inevitably be influenced both by the individuals that comprise the team and by how they function together. The most common corporate governance weaknesses of the underperforming companies are issues with the composition of their boards. A board with weak corporate governance may lack directors with a diversity of relevant professional backgrounds, skills, and experiences necessary to meet a company’s needs. If a board is truly committed to fulfilling its role and responsibilities effectively, improving diversity in the boardroom-both demographically and cognitively-must be made a priority.
Setting in the Hub - June, 2021 issue highlights “Composition of Indian Corporate Boards - PRISM from NIFTY 500”. Corporate should restructure their boards by selecting demographically diverse candidates that also improve cognitive differences in the boardroom, by identifying candidates who have unique views and perspectives as well as professional backgrounds, skills, and experiences in areas that are needed to meet the company’s strategic and operating needs.
Vignettes showcase experience of professional Independent Director Mr. Shankar Venkateswaran with regard to ESG in a post-COVID India – Bringing the “S” back to the centre.
Regulatory Worktop, shares the key updates about, a) SEBI’s reporting requirements for sustainability in the Business Responsibility and Sustainability Report (BRSR), b) Manufacturing of all Healthcare facilities is part of CSR Activities: MCA, c) RBI announces Resolution Framework 2.0 for Covid related stressed assets; MSMEs, to be benefited, d) SEBI (LODR) Regulations, 2015 amended by the SEBI Board and e) Promoters” concept to be changed with "Person of Control”: SEBI.
Regulators Eye focus on the key updates relating to a) Boards must establish a Framework: When Company takes a Dig on Social & Policy Issues, b) Strategy to be followed during the pre-IPO process: How Boards can help?, c) CEO’s compensation package must be based on performance indicators, d) Social campaigns driving the Change for Women Directors Appointment and e) For-Profit Enterprise (FPE) and Not for Profit Organization (NPO) to be permitted on social bourses,' - SEBI.
Events Expo showcase relevant national and global upcoming events, programs, workshops, conferences, etc. for participation of the members. This issue covers ET Masterclass: One-day Advanced Forecasting Masterclass for directors& Senior Managers via a virtual medium. |11th June| and IIM Kozhikode initiated one year online and on-campus certificate program for senior managers- the professional certificate in Senior Management Program (SMP). |30th June 2021|.
Global Events, suggested are FT Board Director Program is hosting a virtual workshop for directors on Strategy, Values and Culture - Seismic changes to the way that boards think and operate. |10th June| and Henley Business School offers a 2-day offline Program for directors - “The Board Directors’ Program”. |24th-25th June|.
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