ROLE OF INDEPENDENT DIRECTORS IN CORPORATE GOVERNANCE

Registration ID: IJNRD_212866

Published ID: IJNRD2402306

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Chaya Singhal

Corporate Governance”, Public company, Independent Directors, Companies Act 2013, Board of Directors, Stakeholder, minority

Clients, employees, shareholders, and investors are just a few of the several stakeholders that a corporation serves as the focal point for. It is a tool that can raise a sizable amount of money for business endeavours. Every business choice should be transparent and fair to the company's stakeholders. Investment is attracted to and secured by an organisation with excellent corporate governance and a competent board of directors. “Independence of the board is crucial to ensuring that it fulfils its tasks impartially and holds the management accountable to the” corporation. Having an independent director is the answer, according to accepted practises across jurisdictions. “Section 149(4)” of the Companies Act, 2013 , mandates “that each listed public company's board of directors shall consist of at least one-third Independent” directors. Independent directors' role in corporate governance has come under more criticism in recent years. Others contend that the boardroom atmosphere has improved as a result of the emergence of the concept of “Independent Directors”. It has “been viewed by many as a substantial deterrent to fraud and subpar” management. The independent directors, in principle, don't have any special ties to the company, so they can cast votes objectively and take part in other business affairs. Yet, the “Independent director” may be fired by a majority vote of the shareholders. Specifically, the “role of independent directors in corporate governance” is examined in the current research paper together with the situation of the Indian business sector today. The organisational framework of corporate governance will be enhanced, the interests of all stockholders will be respected, and the rights and interests of small- and medium-sized investors will be safeguarded through the appointment of independent directors. Using the Satyam case study of unethical behaviour and phoney audit, this paper will also optimise the independent director system.

Published Paper   E-Certificate

Chaya Singhal (February-2024). ROLE OF INDEPENDENT DIRECTORS IN CORPORATE GOVERNANCE. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 9(2), d62-d74. https://ijnrd.org/papers/IJNRD2402306.pdf

Volume 9 Issue 2, February-2024

Pages : d62-d74

Paper Reg. ID: IJNRD_212866

Published Paper Id: IJNRD2402306

Downloads: 000122253

Research Area: Other

Author Type: Indian Author

Country: Bangalore, karnataka, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2402306.pdf

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Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

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