Top recommendations of Kotak Committee
1. Panel suggested that it was the the right time to split chairman, MD-CEO role of listed companies
2. Panel suggested it should be mandatory for top 500 companies by market capitalizationto undertake D&O insurance for its independent directors. D&O Insurance stands for Directors and Officers insurance
3. Panel suggests minimum of 6 directors to be on board of listed entities; every listed entity to have at least 1 independent woman director
4. Panel suggested more transparency on appointment of independent directors; wants them to play a more active role on the boards
5. Panel suggested maximum number of listed entity directorship to be reduced to 8. At least half of every listed entities board to have independent directors
6. Panel suggested Audit Committee must review use of loans/adv/ investment by holding co in arm over Rs 100 crore
7. Panel suggested application to fill a casual vacancy of office of any Independent Director must be okayed by holders; minimum number of Audit Committee meetings be increased to five every year
8. Panel suggested no person to be appointed as alternate director for an independent director of a listed company
9. Panel suggested a formal induction should be mandatory for every new Independent Director appointed to the board
10. Panel suggested BoD to be updated on regulatory & compliance changes at least once a year; as well as an interaction between NEDs & senior management
Company Secretary GAURAV SHARMA+919990694230 Connect on Watts App with Gaurav Email us [email protected] Submit your guest articles for our website click here we will publish it Subscribe our Email updates like other 100,000 Members, Free/Easy/Comfortableway
1. Panel suggested that it was the the right time to split chairman, MD-CEO role of listed companies
2. Panel suggested it should be mandatory for top 500 companies by market capitalizationto undertake D&O insurance for its independent directors. D&O Insurance stands for Directors and Officers insurance
3. Panel suggests minimum of 6 directors to be on board of listed entities; every listed entity to have at least 1 independent woman director
4. Panel suggested more transparency on appointment of independent directors; wants them to play a more active role on the boards
5. Panel suggested maximum number of listed entity directorship to be reduced to 8. At least half of every listed entities board to have independent directors
6. Panel suggested Audit Committee must review use of loans/adv/ investment by holding co in arm over Rs 100 crore
7. Panel suggested application to fill a casual vacancy of office of any Independent Director must be okayed by holders; minimum number of Audit Committee meetings be increased to five every year
8. Panel suggested no person to be appointed as alternate director for an independent director of a listed company
9. Panel suggested a formal induction should be mandatory for every new Independent Director appointed to the board
10. Panel suggested BoD to be updated on regulatory & compliance changes at least once a year; as well as an interaction between NEDs & senior management
Company Secretary GAURAV SHARMA+919990694230 Connect on Watts App with Gaurav Email us [email protected] Submit your guest articles for our website click here we will publish it Subscribe our Email updates like other 100,000 Members, Free/Easy/Comfortableway
