Business Daily from THE HINDU group of publications
Sunday, Dec 12, 2010
ePaper | Mobile/PDA Version | Audio | Blogs

Foreign Exchange

Group Sites

Corporate - Corporate Governance
Govt mulls separate chairman, CEO posts

Our Bureau

Hyderabad, Dec. 11

The Government is seriously considering a proposal recommended by the Parliamentary Standing Committee on Finance regarding separation of the posts of chairman and chief executive officer of a company.

Mr R. Bandyopadhyay, Secretary to the Ministry of Corporate Affairs, said though there were different views on the issue, the dominant view appeared to be in favour of the proposal. “The idea behind the proposal is to make the chairman preside over the board (of the company), while the CEO takes care of the day-to-day administration,” he said at a conference on Corporate Governance held here recently.

He said the draft Companies Bill will be placed before Parliament during the ensuing Budget Session and by the end of the fiscal the new Companies Act may be in place. All issues of corporate governance, CSR and change in accounting practices have been embedded in the Bill, he pointed out.

Dr P. Rama Rao, President of Institute of Public Enterprise, called for more investments by Indian corporates in the research and development area, which at present was much lower in India compared with developed countries.

The conference discussed several issues such as ownership and boards, corporate ethics, corporate government in the financial sector and sustainable CSR activities.

More Stories on : Corporate Governance | People | Management

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
XL Tele allots equity shares at premium

Govt mulls separate chairman, CEO posts
Atmel opens microcontroller R&D unit
First turbine for ONGC's Tripura power project will be shipped by Feb
Goa Carbon signs pact with Hong-Kong's Sinoway
Nissan revises parts-sourcing target from India to $30 m
Will resume cigarette-making after order on warning sign: ITC

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2010, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line