History of Corporate Governance

sunandaC

New member
1998

Confederation of Indian Industry (CII) -Desirable Corporate Governance: A Code

Voluntarily followed by Bajaj Auto, Hindalco, Infosys, Dr. Reddy’s Laboratories, Nicholas Piramal, Bharat Forge, BSES, HDFC, ICICI.

1999

SEBI under Kumar Mangalam Birla designed a mandatory-cum-recommendatory code for listed companies.

Mandatory for :

• BSE or Nifty index - 80% of market cap

• Companies with paid-up capital of Rs.30 million or more

2002

The Department of Company Affairs (DCA) – under Naresh Chandra incorporated provisions regarding independent directors and audit committees.

Recommended to issue:

• Certification of accounts

• Financial statements by the management and directors.

2003

SEBI under the chairmanship of Narayan Murthy formed -revised Clause 49 – got effective from 1st January, 2006

Recommendations :

• Board composition & procedure

• Audit committee responsibilities

• Subsidiary companies

• Risk management

• CEO/CFO certification of financials and internal controls
 
1998

Confederation of Indian Industry (CII) -Desirable Corporate Governance: A Code

Voluntarily followed by Bajaj Auto, Hindalco, Infosys, Dr. Reddy’s Laboratories, Nicholas Piramal, Bharat Forge, BSES, HDFC, ICICI.

1999

SEBI under Kumar Mangalam Birla designed a mandatory-cum-recommendatory code for listed companies.

Mandatory for :

• BSE or Nifty index - 80% of market cap

• Companies with paid-up capital of Rs.30 million or more

2002

The Department of Company Affairs (DCA) – under Naresh Chandra incorporated provisions regarding independent directors and audit committees.

Recommended to issue:

• Certification of accounts

• Financial statements by the management and directors.

2003

SEBI under the chairmanship of Narayan Murthy formed -revised Clause 49 – got effective from 1st January, 2006

Recommendations :

• Board composition & procedure

• Audit committee responsibilities

• Subsidiary companies

• Risk management

• CEO/CFO certification of financials and internal controls
Hy sunanda, vry nice topic and we should know about the history of corporate governance. I read your article and it was really very nice. I have also got a document which would give some more important information on the history of corporate governance.
 

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