Tag: Corporate Governance
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Bits of Interest
1. Mutual Funds and Unit Premium The Law-In-Perspective Blog uses the analogy of Ponzi schemes to explain a March 2010 circular of SEBI that prohibits mutual funds from using the unit premium reserve to pay dividends. If one would prefer to avoid the negative connotation associated with a Ponzi scheme, the post also looks at…
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Enforcement of Corporate Governance Norms: Anecdotal Evidence
A constant quibble with corporate governance in India is that while the body of substantive norms has been ballooning over time, the enforcement of those norms has not kept pace. In a somewhat unusual measure, the National Stock Exchange (NSE) has threatened to suspend trading of a listed company for failure to file governance reports…
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Nasscom on Corporate Governance
In early 2009, immediately following the accounting fraud at Satyam, several committees and task forces were constituted to review corporate governance norms and practices in India. Some of them issued their recommendations late last year. These include a report by a task force constituted by the Confederation of Indian Industry (CII) and another by the…
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NLSIR Corporate Law and Corporate Governance Symposium: April 10 and 11, 2010
The NLSIR Symposium, scheduled for 10 and 11 April at the NLS campus in Bangalore, will feature several important topics that we have discussed on the blog, including corporate governance, independent directors, tax planning, tax avoidance and adjudication of company disputes. The schedule for the symposium is indicated below. Readers interested in attending may contact…
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Governance Norms for Central PSUs
In 2007, the Central Government issued the Guidelines on Corporate Governance for Central Public Sector Enterprises (CPSEs). This was a measure introduced to bring corporate governance norms in CPSEs on par with the private sector. However, it was only a voluntary measure. On March 25, 2010, the Government announced that the Guidelines would now be…
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Lehman Bankruptcy Examiner’s Report
The Report of the Examiner in the Chapter 11 proceedings of Lehman Brothers Holdings Inc. provides details about certain transactions that were carried out in the company and the manner in which they were accounted for in its books. The key transaction is question is referred to as “Repo 105”, and the New York Times…
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Voluntary Nature of Corporate Governance Norms
For the last ten years, corporate governance norms in India have been a mandatory requirement for large listed companies, through Clause 49 of the listing agreement. However, in the recent round of reforms, the Ministry of Corporate Affairs has deviated from that path to set out voluntary guidelines for corporate governance (discussed earlier here). Even…
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Board Diversity and Women Directors
On the occasion of the International Women’s Day, it is apt to consider the role of board diversity, particularly the participation of women directors, in corporate governance. A discussion in the Hindu Business Line finds that women in corporate boardrooms continue to be an exception rather than the norm. Some countries have addressed this concern…
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Event Announcement: 3rd NLSIR Symposium on Corporate Governance
The National Law School of India Review (NLSIR), the flagship journal of the National Law School of India University, Bangalore, will be hosting the 3rd Annual NLSIR Symposium, ‘Indian Corporate Law and Corporate Governance: At the Crossroads’, in Bangalore, on 10th and 11th April, 2010. Extracts from the concept note for the Symposium may be…
