Board Of Directors

Sebi clarifies on shareholders' approval for directors appointment on board

Listed public sector companies, including banks, will be required to take shareholders' approval for any appointment or reappointment to the board of directors in the immediate next general meeting, capital markets regulator Sebi has clarified. In case shareholders do not clear resolution for the appointment, such a person would cease to be a director, it added. Providing informal guidance to state-owned Bank of Baroda, the Securities and Exchange Board of India (Sebi) indicated that its views might differ on a case-to-case basis. The clarification came after Bank of Baroda sought informal guidance in relation to amendments made in LODR (Listing Obligations and Disclosure Requirements) rules pertaining to shareholders' requirement for appointment on the board. The bank has sought clarification on the status of government-appointed directors in a scenario where resolutions put for appointment are rejected by shareholders and whether the government can participate in such a ...

When silver is gold for company boards: Over 300 directors 'octogenarians'

321 company directors are octogenarians, 22 are over 90, largest chunk in 45-60 band

Grasim board inducts Ananya Birla, Aryaman Vikram Birla as directors

Aditya Birla Group flagship firm says move comes at an appropriate moment, with the creation of the paints vertical and B2B platform for building material

Swiggy announces appointment of three independent directors to its Board

Swiggy on Monday announced it has appointed three independent directors to its Board - Mallika Srinivasan, Padma Shri awardee and Chairman and Managing Director of TAFE; Shailesh Haribhakti, Chairman of Shailesh Haribhakti & Associates; and Sahil Barua, Managing Director and CEO at Delhivery.

Timely response in governance

Commentary on misgovernance dwells on misdemeanour, but perpetrators often do not demonstrate malintent. There are plenty of smoke signals, however, before every episode

Indian-origin man appointed Director of Toll Road Authority in US

An Indian-origin man has been appointed to the Board of Directors of the Fort Bend Toll Road Authority and the Grand Parkway Toll Road authority in the US state of Texas. Swapan Dhairyawan, 57, was appointed last week based on his background, community outreach, and financial expertise. I am proud to appoint Dhairyawan to the Grand Parkway Tollway Board of Directors, Precinct 3 Commissioner Andy Meyers said. He is a Certified Public Accountant and understands the importance of being a good steward of the people's money, he added. As a Director of the autonomous body, Dhairyawan will oversee the maintenance, expansion, budget, and economic impact for the county. I am thankful to Commissioner Andy Meyers Precinct 3 for nominating me for this position at the Fort bend Commissioners Court, and I am looking forward to engaging and working for substantive results. The Tollways not only connect people but they are an economic engine for the neighbourhood which gets enriched abundantly,"

NDTV approves proposal to invite two Adani nominees on its board

The appointment of directors, NDTV said, would be taken up at its next board meet on December 23

The regulatory puzzle of MIIs

Market infrastructure institutions are being turned into de facto PSUs. Have we failed to find the right balance in their operations?

Vedanta Group notifies third interim dividend of Rs 17.50 per share

Vedanta Group approved the third interim dividend of Rs 17.50 per share or 1750 per cent for the financial year 2022-23, on Tuesday November 2022

Kirloskar Industries' Board seeks forensic audit on Kirloskar Brothers

KIL raised questions whether the KBL Board, especially the independent directors of KBL, verified the claims made by Sanjay Kirloskar in relation to the Deed of Family Settlement

Women directors: Companies not complying with Sebi rules is a worrying sign

The average number of women independent directors in Nifty 50 companies is 1.28. In several countries in Europe the percentage is above 30. It is above 25 in the US

Nayara Energy seeks Centre's approval on independent directors' pay

The company said the remuneration proposed to be paid to the independent directors is comparable with the remuneration being paid for similar assignments in the industry

Dabur's chairman Amit Burman resigns, will remain non-executive director

Saket Burman has been appointed as the non-executive vice chairman of the board of directors with effect from August 11 for a period of 5 years

Torrent Pharma expected to enter diagnostics space in next 2-3 months

A company called Torrent Diagnostics Private Ltd was incorporated in February this year and has a Torrent Pharmaceuticals executive director as one of its directors

Govt clearance must for companies to appoint Chinese directors on board

According to an MHA notification, it will be mandatory for companies to seek clearance from the government before appointing directors from land-border sharing nations on their boards

Retired SBI senior executive Natarajan Sundar joins NARCL as MD CEO

Karnam Sekar, Malvika Sinha named independent directors; NARCL Board now has 5 nominees from shareholder banks, one more independent director likely to join soon

Sanofi India names Rodolfo Hrosz managing director effective June 1

He will transition from being Sanofi's GM, Consumer Healthcare business in Brazil to the new role in India as soon as regulatory approvals are in place

Musk joins Twitter's board of directors, promises significant improvements

According to a fresh filing with the US Securities and Exchange Commission (SEC), Musk will serve as a class II director until 2024

When less is more

As investors sit outside the board room looking in, they do not really know which of the directors has been constructive or how much each individual director has contributed

Ravindra Energy seeks shareholders' nod to raise Rs 102 cr via warrants

The Board of Directors proposes to create, offer, issue and allot two crore warrants at the rate of Rs 51 per unit for an amount up to Rs 102 crore