DR.J.J Irani
DR.J.J Irani
BRIEF INTRODUCTION
Good Corporate Governance are not born , but are made by the combined efforts of all Stakeholders which include Shareholders , Board of Directors , Employees, Customers , Dealers , Government and the Society at large.
Responsible for giving the Suggestions in laying Sound Base for Corporate Growth in coming years.
On August 4, 2004 the Ministry of Company Affairs had published a Concept Paper on Company Law on its website to enable a broad-based examination of various Company Law issues requiring revision. Later, on December 2, 2004, the Government constituted an Expert Committee on Company Law under the Chairmanship of Dr. J.J. Irani to make recommendations on :
Providing greater Flexibility in rule making. Protecting the interests of the Stakeholders, Investors, Small Investors.
It is the step towards providing a Growth Oriented and Modern Company Law. It address the concerns of all the Stakeholders to enable the adoption of internationally accepted best practices.
Pyramidal Strs.
Selfregulation Accounts & Audits and Governance Standards
INDEPENDENT DIRECTORS
50% of the Board of a listed company consist of Independent Directors. 1/3rd of the Board of a listed company should comprise Independent Directors.
PYRAMIDAL STRUCTURES
POWER TO SHAREHOLDERS
Liberty to the Shareholders. Shift from govt. approval regime to a Shareholders approval and disclosures regime. Protect the Rights of Minority Shareholders
STRINGENT PENALTIES
GOVERNANCE STANDARDS
It is hoped that that Committees report will give a new thrust and fresh perspective to the Govt. on Company Law. It has just submitted its recommendations but its thrust is reminiscent of attempts in the U.S. and elsewhere to tone down the rigour of the emerging Law.
THANK YOU