Business Daily from THE HINDU group of publications
Thursday, Jun 26, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Jun 26, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Corporate Governance ‘Stress on independence of directors’ New Delhi, June 25 Independent directors in public sector enterprises should make positive contribution to the company and not derive value from it, the Standing Conference of Public Enterprises (Scope) said here today. The Director-General of Scope, Dr S.M. Dewan, said that while the appointment of independent directors on the boards of PSEs would be significant for their empowerment, ensuring independence of independent directors would be crucial. Independent directors should be only those who would “add value to the corporation and not derive value out of the corporation,” he said at an OECD seminar on Network on Corporate Governance of State-owned Enterprises in Asia, held here today. The Secretary in the Ministry of Corporate Affairs, Mr Anurag Goel, said that a new corporate law is being formulated which will include all issues of governance and would be notified soon. Indian Institute of Corporate Affairs, a think tank on corporate strategies, is also being set up, he said. – Our Bureau More Stories on : Corporate Governance | PSU
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