CORPORATE GOVERNANCE

AT
BIZ-MAZE
GAGAN NATH UNIVERSITY JAIPUR
14 NOVEMBER 2009
AFTERSCHO☺OL
– DEVELOPING CHANGE MAKERS
CENTRE FOR SOCIAL ENTREPRENEURSHIP
PGPSE PROGRAMME –
World’ Most Comprehensive programme in social
entrepreneurship & spiritual entrepreneurship
OPEN FOR ALL FREE FOR ALL

let us change the world

www.afterschoool.tk afterschoool
AFTERSCHO☺OL's
- PGPSE MATERIAL
- online mb
a programme
FOR PGPSE PARTICIPANTS
 CORPORATE GOVERNANCE

Dr. T.K. Jain.

AFTERSCHO☺OL
Centre for social entrepreneurship
Bikaner M: 9414430763
tkjainbkn@yahoo.co.in
www.afterschool.tk, www.afterschoool.tk
let us change the world
www.afterschoool.tk afterschoool
AFTERSCHO☺OL's
- PGPSE MATERIAL
- online mb
a programme
FOR PGPSE PARTICIPANTS
 Why ? ? ? ?
• Growing instances of breach of trust
• Growing instrances of fradulant practices
• Huge money and resources at stake
• Securing stakeholders’ interest

let us change the world afterschoool - PGPSE - online mb

a programme
 Recommendations :
• Cadbury committee report
• Narayan Murthy Committee report
• Kumar Manglam Birla Committee report
• CII committee report

let us change the world afterschoool - PGPSE - online mb

a programme
 Best practices…Infosys
• 8 out of 15 directors are outsiders
• Remuneration committee, audit
committee, and other committees
• Active board and regular meetings
• Code of conduct being followed by every
executive
• Corporate culture promoting transparancy,
fair practices and ethical conduct
let us change the world afterschoool - PGPSE - online mb
a programme
 Clause 49
• Listing requirements more stringent
• Greater transparancy
• Proper disclosure

let us change the world afterschoool - PGPSE - online mb

a programme
 Suggestions …
• Corporate initiatives and corporate
practices required
• Law alone will be inadequate
• Industry associations and bodies need to
take initiatives
• Apex institutions like ICAI etc. should raise
their standards

let us change the world afterschoool - PGPSE - online mb

a programme
 Some suggestions …
• At least 1 Board meetings every 3 months
• At least 60 percent directors must be
outsiders
• All the directors must have basic
knowledge of accounting and finance and
at least 20 % must have expertise in
accounting and finance

let us change the world afterschoool - PGPSE - online mb

a programme
 Continued….
• There should be committees of directors
for audit, remuneration, environmental
impact, legal compliances

let us change the world afterschoool - PGPSE - online mb

a programme