Nov. 4, 2009 (The Hindu Business Line) --
The recommendations were made in the wake of the Rs 7,136-crore Satyam (NYSE:SAY) fraud, and some of them might be included in the Companies Bill, 2009, by the Government, Mr N.K. Jain, Secretary and CEO, ICSI, told newspersons here on Wednesday.
The recommendations would touch upon issues such as directors’ development programme, number of directors, role of independent directors and dichotomy of chairman and managing director, among others.
“They will also deal with the incentives for companies (in the form of tax and other concessions) for adhering to good corporate governance norms,” he added.
On the role of company secretaries in the Satyam scam, he said the ICSI did not find any deviation from established procedures by the company secretaries of Satyam.
“The window, however, is open. If the investigating agencies bring any fresh evidence to our notice, we will take necessary action,” Mr Jain added.
Mr Datla Hanumantha Raju, President, ICSI, said the convention would focus on Lead Corporate India – Role of Company Secretary.
The three-day meet would have four technical sessions on managing growth in turbulent times, integrity, ethics and governance, best practices in financial and non-financial disclosures and leading the market in competition regime.
Mr Salman Khursheed, Minister of State for Corporate Affairs, would inaugurate the meet. Mr Rana Som, Chairman and Managing Director, NMDC Ltd, would deliver the key note address. Over 1,200 delegates are expected to attend the meeting.
