TNPSC Thervupettagam

Norms on appointing Independent Directors

October 17 , 2017 2355 days 1023 0
  • Kotak Committee on corporate governance constituted by the SEBI, has recently proposed a fresh set of norms for appointing directors.
  • Independent directors, who are supposed to represent ordinary shareholders, are chosen not by shareholders but largely by the management, i.e. the promoter.
  • This committee asks for more directors and independent directors and dwells on the eligibility criteria for independent directors, and their induction.
  • It lays down requirements for the minimum number of board meetings and attendance requirements.
  • It specifies a minimum compensation for independent directors.

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