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
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