Financial Daily from THE HINDU group of publications
Friday, Oct 21, 2005
Financial Daily from THE HINDU group of publications Friday, Oct 21, 2005 |
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Opinion
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Letters Independent directors
This is with reference to "Independent directors and vicarious liability," (Business Line, October 13). The regulators should provide the same protection to independent directors that the law assures them. This is because they are invariably hauled to court even for acts of non-compliance or oversight which they may not be aware of. For instance, when a cheque bounces, lawyers make a case against all the directors of the company concerned and summons too are is issued on all of them. Further, there should also be strict law in the event of an independent director not bringing to the notice of shareholders or regulators anything that is working against the interest of the company/shareholders. Raghav Agarwal
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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