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Role And Responsibilities Of Independent Directors

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Robin Kapoor
Robin Kapoor
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Role and responsibilities of Independent directors under the Companies Act VINOD KOTHARI 1012 Krishna, 224 A J C Bose Road Kolkata – 700017. India Phone/fax – 91-33-22811276/22817715/22813742 E- mail- vinod@vinodkothari.com
Why it is needed ? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
A basic design of existing corporate governance systems Corporate Board of Directors Management Shareholders Stakeholders Creditors Supervisory & enforcement authorities Executive directors Owner directors Independent Directors
Key objectives ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Principles of OECD code on Corporate Governance 2005 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
OECD principle – shareholder rights ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
OECD principle – equitable treatment to all shareholders ,[object Object],[object Object],[object Object],[object Object],[object Object]
OECD principle: Stakeholders’ interest ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
OECD principle: disclosure and transparency ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
OECD principle: Board composition and structure ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Who are Independent Directors ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Other Definitions: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Selection of Independent Director ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Roles & Responsibilities ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Role of Independent Directors ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Responsibilities of Independent Directors ,[object Object],[object Object],[object Object],[object Object]
PROVISIONS OF SARBANES OXLEY ACT ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
IMPLICATIONS OF SARBANES OXLEY ACT ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
NEW YORK STOCK EXCHANGE REGULATIONS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Experience with independent directors ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Independent Directors under Listing Agreement in India ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Recommendations of the Irani Committee on Independent directors ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Derek Higgs report on independent directors: some interesting data ,[object Object],[object Object],[object Object],[object Object]
Do independent directors help? ,[object Object],[object Object],[object Object],[object Object]
Companies Act and Independent Directors ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Legal provisions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Liabilities under other laws ,[object Object],[object Object],[object Object]
Recent examples of liability of independent directors ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Mitigating directors’ liability ,[object Object],[object Object],[object Object],[object Object]
Way out… ,[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object]

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Role And Responsibilities Of Independent Directors

  • 1. Role and responsibilities of Independent directors under the Companies Act VINOD KOTHARI 1012 Krishna, 224 A J C Bose Road Kolkata – 700017. India Phone/fax – 91-33-22811276/22817715/22813742 E- mail- vinod@vinodkothari.com
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  • 3. A basic design of existing corporate governance systems Corporate Board of Directors Management Shareholders Stakeholders Creditors Supervisory & enforcement authorities Executive directors Owner directors Independent Directors
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