On 22nd October 2019 the Ministry of Corporate Affairs (MCA) mandated most current and prospective Independent Directors take an online proficiency test held by Indian Institute of Corporate Affairs (IICA). The exam will improveRead More…
Did you know that as per the insurance regulator, IRDA, the total insured business losses in India have grown by almost 100% in 4 years, from Rs 55,000 cr. in 2015 toRead More…
As the country is recovering in stages from the COVID lockdown, a directive dated 15th April 2020 by the Ministry of Home Affairs (MHA) has made news. This directive has mandated thatRead More…
Authors: Bhavin Gada (Partner), Manendra Singh (Senior Associate), and Tanvi Goyal (Associate Manager) These unprecedented times require the flag bearers to take decisions, which (under the law) are in the ‘best’ interestRead More…
Q1: In Satyam’s case, auditors did not do their job well. In such case, can the Independent Directors be held responsible? – Sudhir Jain Response: There are various factors that are requiredRead More…
The world has moved, virtually, to a new order since the COVID pandemic began. In India we’ve seen a lockdown come into force from March 24th, which continues till today in differentRead More…
With the regulatory authorities laying a strong emphasis on the need for good corporate governance, having proficient Independent Directors on Boards has become the norm. Instances of frauds, inequality, mismanagement and lackRead More…
COVID-19 is likely to materially impact the financial position and statutory compliances of many companies in India. It is therefore important for directors, whether executive, non-executive or independent directors and the managementRead More…
The Coronavirus-caused illness, (Covid-19) has spread rapidly across the world, creating an unprecedented challenge due to the severe health and economic setbacks caused in the immediate aftermath, with an anticipation of gettingRead More…
The scope of a director’s duties and personal liability (civil and criminal) towards the company, shareholders and third parties have been uniformly distributed between all directors including Independent Directors under various statutes.Read More…