4 min read.Updated: 30 Mar 2021, 09:50 PM ISTSanjay Kallapur,Harish Raichandani
The pay-offs can be significant if companies take the exercise as more than just a regulatory burden
Every year, boards get an opportunity to improve their functioning, but many fail to seize it. We refer to the mandate that an evaluation of the board as a whole and each director be performed every year under the Companies Act of 2013 and the Securities and Exchange Board of India’s listing obligation and disclosure rules of 2015. This is a relatively recent practice the world over. While Board evaluations became standard in 1992 with the Cadbury Committee Report in the UK, recent years have seen it become mandatory in many countries.
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