Govt. sets up Committee on Corporate Governance under Adi Godrej
New Delhi, April 10, 2012
The Ministry of Corporate Affairs has constituted a Committee under the Chairmanship of industrialist Adi Godrej for framing a National Corporate Governance Policy to suggest a comprehensive policy framework to enable corporate governance of highest quality in all classes of companies without impinging on their internal autonomy to order their affairs in their best judgement.
The other Members of the Committee are as under: Kiran Mazumdar Shaw, CMD, Biocon Ltd; Siddharth Birla,, FICCI; Director General, IICA; M.K. Chauhan, Vice Chairman, Asian Centre for Corporate Governance & Sustainability; R.S. Sharma, former MD, ONGC; G. Ramaswamy, former President, ICAI; Deosthali, L&T; S. Balasubramaniyan, former Chairman, Company Law Board; SS.K. Rungta, ex-CMD, SAIL; K.K. Mistry, CFO, L&T; Ziya Modi, lawyer; and Sudhir Mittal, Additional Secretary in the Ministry ofCorporate Affairs.
In addition there will be nominees from the CII, Assocham and the Institute of Cost Accountants of India as members. The President of ICSI will be member-Secretary and Convener of the committee.
The committee is expected to make its recommendations within six months from the date of its first meeting after wide consultations with all stakeholders in the corporate sector, academics and members of the public, an official press release added.