Lessons from Ghosn’s sacking

This refers to ‘Driverless’ (November 22). Indeed, the swift action taken up by Nissan, Renault and Mitsubishi to dislodge Carlos Ghosn from his post after serious allegations of under-reporting his compensation and using company’s assets for personal use is something which not only our regulators but even our corporate sector can take a leaf out of.

The suggestion of having a time limit for the post of CEO and Chairman is an absolute must as it’s human nature to get into a comfort zone after working in an environment for a considerable period of time. In the process, investors and shareholders’ interests get compromised. The Uday Kotak-led committee has clearly given some significant suggestions on corporate governance but unfortunately it is one subject which is still not given the importance it deserves. It’s unfortunate that we are neither swift in taking action against governance lapses nor show intent to correct them. It’s time SEBI clearly spelt out the guidelines for not only the top 500 listed companies but all the listed companies. If we are unable to set good corporate governance standards even in listed companies what would be the situation in privately-held companies.

Noida

This is with reference to ‘Despite India shining, people moving abroad in droves’ (November 22). It is disturbing to note that when our country faces acute shortage of medical professionals, doctors are going abroad in the hope that they would get fair treatment in developed countries like the UK. This the trend of should be arrested. This can be done by giving doctors various incentives to start hospitals or nursing homes and even giving awards to outstanding medical professionals. Under no circumstances should the brain drain in medical profession be allowed. Many doctors migrate to foreign countries due to poor research facilities, rigid rules of the MCI, and lack of good hospitals. Another badly neglected lot are nurses, despite their hard work and attending to duties at odd hours. Hence they migrate to developed/Gulf countries where they get fat pay packages and other facilities.

The government should set up a committee comprising eminent professionals from the medical field to study the problems faced by nurses and solutions to the same should be found in quick time. Besides medical professionals, the government should also take all possible steps to arrest the migration of skilled workers, engineers and other professionals so that their expertise can be used for the benefit of our nation.

Thane

It was disheartening to learn that as many as 400 paramilitary personnel were killed in firing from across the border with Pakistan and in terrorist and insurgency violence in the country in the last three years. It is an undeniable reality that we, the citizens of India, are enjoying a peaceful life only because of the Army protecting our nation’s borders. Fighting terrorism and illegal immigration, risking their lives for us, they are on guard night and day, come hail or storm. If we can’t do anything to make their lives better, at least we must respect and salute them for all their might and sacrifices.

New Delhi

This refers to ‘A welcome win for RBI’ (November 21). The so-called ‘win’ for the RBI seems like a mirage. Two years ago, the government broke the RBI's monopoly over monetary policy formulation by entrusting the task to the Monetary Policy Committee. In the present skirmish, the RBI's image in public eye has been dented. The fate of the reserves of the RBI would largely depend on the composition of the committee which would be formed to decide the issue.

With the quantum of RBI reserves now being openly debated, it would be easy for the government to push its views, depriving the RBI the exclusive decision-making it had earlier in this regard. By threatening to use Section 7, the government has succeeded in weakening the institution.

Jaipur

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