[aaykarbhavan] Role clarity ‘is key for’ independent directors OUR BUREAU Source Business Line

​Bring in broad spectrum of knowledge, says Damodaran

CHENNAI, MARCH 5:  

Establishing the `role clarity' of independent directors is the key issue in providing training in the context of the Companies Act 2013, according to M Damodaran, former chairman Securities and Exchange Board of India.

Damodaran, who has founded Excellence Enablers Pvt Ltd, an initiative to support better corporate governance and training directors, said independent directors bring in a wide range of experience and knowledge to the Board.

The issue of training is not about skill gap but a clearly establishing their position on the board of company to work together as a team while clearly expressing their views, he said.

NC Sarabeswaran, organiser of a Directors Training Programme by Efficiency Enablers here on wednesday, said the Companies Act spells out exhaustively the roles and duties of independent directors. There is overlap in their roles with those of top management in terms of risk management, strategy and decision making. Independent directors have to be effective without being obstructive or losing their perspective. (EOM)

(This article was published on March 5, 2015)​

A.Rengarajan
Practising  Company  Secretary
Chennai

Mobile 93810  11200

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Posted by: CS A Rengarajan <csarengarajan@gmail.com>

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