The Companies Act 2013 makes it mandatory for all registered companies to appoint independent directors so that they make one-third of the board.

The country will now need an estimated 40,000 independent directors for incorporation into the boards of listed or unlisted companies, says a spokesman for the Institute of Directors.

The Institute is one of the notified bodies of the Government of India for maintaining a databank of eligible persons for companies to choose independent directors from.

It was established in India in 1990 with headquarters in New Delhi. It has its regional offices in Mumbai and Bangalore; two chapters function out of Kerala and Tamil Nadu.

Today, the institute has over 30,000 senior executives representing prominent organisations in the government and corporate sector, worldwide.

It is holding its 24{+t}{+h} World Congress on ‘Total quality and leadership’ in Thiruvananthapuram on May 23 and 24.

Quality awards The event will also see the distribution of Golden Peacock National Quality Awards, Golden Peacock National Training Awards and the Golden Peacock Innovative Product/Service Awards for 2014.

Kerala Governor Sheila Dixit, also an erstwhile recipient of the Golden Peacock Award for Women Leadership, and K Sankaranarayanan, her counterpart in Maharashtra, will give away the awards.

Among winners of this year’s quality award are Mahindra & Mahindra Automotive; Deutsche Bank; ACC Ltd; JK Tyre; KIMS Healthcare; ITC Infotech; Indian Oil; Steel Authority of India; and Paradip Port Trust.

Winners of national training award include Union Bank; Bank of Baroda; Infosys BPO; Nestle India; GAIL India; Army Institute of Management, Kolkata; Manipal Health Enterprises; SBI Life Insurance; Dell; ONGC Academy, Dehradun; TCS; and Tata Steel.

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