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MANAGALAM BIRLA
COMMITTEE ,1999
GROUP MEMBERS
GAURAV ALMAL
MRIDULA KHANNA
NITIN BANSAL
PRAVEEN KUMAR
RAJ KUMAR
SAIF AHMAD
KUMAR MANGALAM BIRLA
COMMITTEE,1999
Corporate Restructuring
Further Issue Of Capital
Venturing Into New Businesses
COMPARISON OF CII & KMBC
RECOMMENDATIONS
CII Code Birla Committee
recommendations (1997) recommendations (2000)
a) For a listed company with turnover a)For a company with an executive
exceeding Rs.100 crores, if the Chairman, at least half of the board
Chairman is also the MD, at least half of should be independent directors¨, else
the board should be Independent at least one-third.
directors, else at least 30% .
b) Maximum of 10 directorships and 5
b) No single person should hold chairmanships per person.
directorships in more than 10 listed
companies. c) Audit Committee: A board must have
an qualified and independent audit
c) Non-executive directors should be committee, of minimum 3 members, all
competent and active and have clearly non-executive, with at least one having
defined responsibilities like in the Audit financial and accounting
Committee. Knowledge.
(contd….)
CII KMBC
e)Remuneration-Committee:The
remuneration committee should decide
remuneration packages for executive
directors. It should have at least 3
directors, all no executive and be
chaired by an independent director.
CONCLUDING REMARKS
By and large, Indian listed companies have been
legally mandated to follow fairly strict standards of
corporate governance and disclosure
http://www.nfcgindia.org/krbirla1999.htm
www.business.gov.in
http://www.sebi.gov.in/commreport/corpgov.jsp 27/