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9th Corporate Governance Summit
HighLights
 

·   “The world has changed dramatically in the last five years. There is a strong upsurge towards democracy, accountability and transparency. The corporate world cannot ignore these social and political happenings in the larger society because the considerations that govern the rest of society, the same guiding principles will also govern corporates,” said Mr. U K Sinha, Chairman, Securities & Exchange Board of India (SEBI) at CII’s 9th International Corporate Governance Summit.

“Adding to this is the US financial crisis where it was found that many corporations acted recklessly took too much risk, went for short term gains, had lax monitoring and had policies not in the best interest of shareholders. These have led to shareholder impatience and the strengthening of regulatory actions against corporates,” Mr Sinha explained.

Responding to the submission by Mr Chandrajit Banerjee, Director General, CII that the regulations should not be framed keeping the outliers in mind, Mr Sinha responded that non-compliance was becoming quite rampant. Chairman, SEBI also pointed out that many companies are not complying with the Listing Agreement - Clause 40A on minimum public shareholding and Clause 49 on Corporate Governance and that SEBI would we well within its right to take action against them.

Mr Sinha also alluded to another trend recently visible globally; the alliance between investors, especially institutional investors and activists, which is taking up issues on a major scale.

Mr. Sinha also referred to international corporate governance practices with the intention of driving the need to be in sync with the rest of the world and for corporates to go beyond how business is done in India and adopt international best practices in a globalised world.

Mr. Sinha urged companies to be extra conscious about compliance to the Companies Act and comply in sprit rather than the letter. Mr. Sinha informed that the new set of corporate governance guidelines for listed companies are being finalized and are expected to be announced shortly.
 

·      Mr K V Kamath, Past President and Chairman, National Council on Corporate Governance & Regulatory Affairs, CII advised that corporate governance is a naturally evolving process and should be internalized. He further added that the regulatory nudge in the offing may turn out to be a hard shout to turn such practices from mere form to a due process.

·     A joint CII- Deloitte publication titled ‘Global Trends in Corporate Governance – since the financial crisis’ was released by Mr. U K Sinha at the summit. The paper gives an overview not only of the national trends but also global trends in corporate governance. 

·      Earlier while welcoming Chairman, SEBI; Mr Chandrajit Banerjee, Director General, CII, highlighted CII initiatives in the domain and suggested that the new regulations that would soon be in place under the newly legislated Companies Act, 2013 should not be implemented in a manner that would be disruptive to business.

 
Description

The 9th International Corporate Governance Summit, organized on 20th December at Mumbai, was inaugurated by Mr. U K Sinha, Chairman, Securities & Exchange Board of India (SEBI). During the Inaugural Address, Mr Sinha drew attention to the strong upsurge towards democracy, accountability and transparency across the world in the last five years. He advised the corporates not to ignore these social and political happenings in the larger society as corporates are also governed by the same considerations and guiding principles that govern the rest of society. Explaining this further, Mr Sinha said, “Adding to this is the US financial crisis where it was found that many corporations acted recklessly, took too much risk, went for short term gains, had lax monitoring and had policies not in the best interest of shareholders. These have led to shareholder impatience and the strengthening of regulatory actions against corporates”. 

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Knowledge Resources
You will get access to following Knowledge Resources by subscribing to the Digital Library of this event.
 
New Code on Corporate Governance based on Consultative Paper Soon: UK Sinha, Chairman SEBI
Corporate governance in India - An introduction by Mr. Chandrajit Banerjee, Director General, CII
Mr K V Kamath, Past President & Chairman, Council on Corporate Governance & Regulatory Affairs, CII at the inaugural session of the 9th International Corporate Governance Summit 2013
Brief note of CII-Deloitte Publication on ‘Global Trends in Governance - Since the Financial Crisis’ by Mr P R Ramesh, Chairman, Deloitte
Release of CII-Deloitte Publication ‘Global Trends in Governance - Since the Financial Crisis’
Mr U K Sinha, Chairman, Securities & Exchange Board of India at the inaugural session of the 9th International Corporate Governance Summit 2013
An open house discussion at the inaugural session of the 9th International Corporate Governance Summit 2013
Dr Janmejaya Sinha, Chairman - Asia Pacific, BCG on ‘Effective Boardroom Behaviour: Managing Divers Expectation’
‘Effective Boardroom Behaviour: Managing Diverse Expectations’ - A Perspective by S B Billimoria & Co
‘Effective Boardroom Behaviour: Managing Diverse Expectations’ - A Perspective by L&T Finance Holdings
‘Effective Boardroom Behaviour: Managing Diverse Expectations’ - A Perspective by UTI Asset Management Co. Ltd
Mr Shailesh Haribhakti, Professional Independent Director, Ambuja Cement Ltd on ‘Effective Boardroom Behaviour: Managing Diverse Expectations’
An open house discussion on ‘Effective Boardroom Behaviour: Managing Diverse Expectations’
Dr Janmejaya Sinha, Chairman - Asia Pacific, Boston Consulting Group
Mr Suresh Senapaty, Executive Director & CFO, WIPRO on ‘Disclosure Requirements: Obscuring Meaningful Information’
‘Disclosure Requirements: Obscuring Meaningful Information’ - A Perspective by L B Jha & Co
‘Disclosure Requirements: Obscuring Meaningful Information’ - A Perspective by Deloitte
‘Disclosure Requirements: Obscuring Meaningful Information’ - A Perspective by Institutional Investment Advisory Services
An open house discussion on ‘Disclosure Requirements: Obscuring Meaningful Information’
Mr P R Ramesh, Chairman, Deloitte India on ‘Board Governance and Challenges in the Current Environment’
‘Board Governance and Challenges in the Current Environment’ - A Perspective by J M Financial
‘Board Governance and Challenges in the Current Environment’ - A Perspective by HDFC
‘Board Governance and Challenges in the Current Environment’ - A Perspective by Mahindra & Mahindra
‘Board Governance and Challenges in the Current Environment’ - A Perspective by Tata Sons Ltd
An open house discussion on ‘Board Governance and Challenges in the Current Environment’
 
Charges to access Event
 
Participant TypeAmount (in Rs)
Member
2000
NonMember
3000