Events conducted in November-December, 2009
Director's Colloquium: 'Corporate Governance - Board Leadership - Building Effective Boards'
The Directors’ Colloquium – is a short, intensive and an interactive programme for directors which is being delivered jointly by the National Institute of Securities Market (NISM) set up by the Securities and Exchange Board of India (SEBI) and the Confederation of Indian Industry (CII), aimed at enhancing the understanding of the Boards of the issues which confront the Boards and how to deal with them. The programme is actively supported by the Global Corporate Governance Forum (GCGF), which is a multi donor fund facility located in the International Finance Corporation (IFC) of the World Bank Group. The design of the programme draws inspiration from the Corporate Governance Board Leadership Training Resources Kit developed by the GCGF. The Government of Japan has been generously supporting the India initiatives of GCGF towards capacity building in the area of corporate governance in India.
Director’s Colloquium - Mumbai
The Director’s Colloquium was held at The Retreat, Madh Island, Mumbai on November 13 & 14, 2009. The participants included executive directors, independent directors of listed and unlisted companies and senior officials of companies, such as CFOs, and aspirants to directorship. Mr. C.B. Bhave, Chairman, Securities and Exchange Board of India, Mr. Pratip Kar, Consultant to the IFC’s Global Corporate Governance Forum and to the World Bank, Mr. Ravi Narian, MD & CEO of National Stock Exchange and Mr. Y.H. Malegam, Chairman, National Advisory Committee on Accounting Standards, shared their experiences with the participants.
Director’s Colloquium – Delhi
The Director’s Colloquium was held at The Heritage Village, Manesar near Gurgaon on November 27 & 28, 2009. Mr. C.B. Bhave, Chairman, Securities and Exchange Board of India, Mr. Pratip Kar, Consultant to the IFC’s Global Corporate Governance Forum and to the World Bank, Mr. P.R. Ramesh, Partner, Deloitte Haskins & Sells and Mr. Inder Mohan, Partner, Amarchand Mangaldas were among the speakers.
Director's Colloquium - Kolkata
The Director’s Colloquium was held at The Taj Bengal on December 18 & 19, 2009. Mr. Pratip Kar, Consultant to the IFC’s Global Corporate Governance Forum and to the World Bank, Mr. B Sekkizhar, Partner, Deloitte Haskins & Sells, Mr. Kalpataru Tripathy, Partner, Amarchand Mangaldas and Mr. Hari K, Head, Listing, NSE Ltd. were among the speakers.
Colloquia at Chennai and Bangalore
Similar offerings are planned to be held in Chennai and Bangalore in the near future. The dates and venues for Chennai and Bangalore Colloquia would be announced soon.
Events conducted in July, 2009
Based on the positive feedback and recommendations received in the Pre-Media Workshop, it was decided to conduct a full-fledged workshop for the media persons covering various aspects of Corporate Governance.
Dignitaries from IFC, GCGF and industry stalwarts were invited to present their views based on real-life experiences and case study methodology was used to ensure that the participants get a first-hand feel of the norms they are expected to follow as well as an evaluation leading to better understanding of the concepts learnt during the workshop.
Media Workshop: 'Reporting on Corporate Governance in India'
NISM in collaboration with GCGF, CII and Thomson Reuters Foundation organized two workshops on 'Reporting on corporate governance in India', one each in Mumbai (July 22, 2009) and Delhi (July 25, 2009).
The workshop included presentations on the learnings of industry stalwarts like Mr. V. Balakrishnan, CFO, Infosys Technologies Limited, Mr. P.R. Ramesh, partner of Deloitte Haskins & Sells and S. B. Billimoria & Co. and the firm’s National Leader of Audit and Enterprise Risk Services, Mr. Parvatheesam K., the Company Secretary and Compliance Officer of Infosys, Mr. Roger Jeal, freelance business journalism trainer and desk editor at Reuters for 27 years, Mr. Pratip Kar, consultant to the IFC’s Global Corporate Governance Forum and to the World Bank, Mr. Gene Spiro, Senior Projects Officer at the Global Corporate Governance Forum and Simone Azevedo, founder of Capital Aberto, the first Brazilian free press dedicated to cover capital markets issues.
The full day workshop was well received by the journalist community and they appreciated the content and the manner in which the workshop had been conducted by the partners.
Events conducted in April, 2009
The first event in the series of workshops/events planned was a 'Pre-Workshop Meeting' with Media Editors which was held on April 15, 2009 in New Delhi followed by a 'Round Table for Corporate Governance' held on April 16, 2009 in Mumbai.
The Pre-Media Workshop Meeting
This workshop for media was conducted with the objective of understanding the need of the media persons and devising ways of equipping the journalists with corporate governance standards and practices to allow them to differentiate between the right and wrong practices at an early stage and enable them to convey the same to the public in a form which is easily understood by the public.
Mr. C.B. Bhave, Chairman, SEBI participated in the discussion and the representatives from both print and electronic media participated and expressed their views on the need of such workshops. The discussion also focused on the structure, format and other important aspects of such programs.
Round Table Conference on 'Corporate Governance in India-a Reality Check'
While Indian corporate governance standards are comparable with the best in the world, there is a wide gap between the standards and their implementation. It has been felt that the time is right for one to take stock of the corporate governance norms in the country and to understand more objectively the role of Independent Directors, the obstacles to effective enforcement and the glitches in the system which cause corporate governance norms to fail.
To deliberate on the above issues, the threats and recommendations for development of good corporate governance culture in the country, the Round Table was organized with the above captioned theme.
Mr. Uday Kotak, Chairman, CII National Council on Corporate Governance participated in the discussion. 30 representatives from diverse groups such as policy-makers, regulators, stock exchanges representatives, institutional investors, audit firms, promoters and other stockholders participated in the conference and discussed various corporate governance related issues of importance.