Nothing Special   »   [go: up one dir, main page]
Scribd Logo
Upload

Welcome to Scribd!

  • 47 views

    Committee

    Uploaded by

    shankarinadar
    This document discusses various committees that can be established for effective corporate governance. It describes the composition, role, and objectives of audit committees, remuneration committees, execution committees, nomination committees, advisory committees, shareholder grievance committees, and board of directors committees. It also provides a case study on how Infosys established these recommended committees in the late 1990s to improve corporate governance practices in India.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd

    Committee

    Uploaded by

    shankarinadar
    47 views22 pages
    This document discusses various committees that can be established for effective corporate governance. It describes the composition, role, and objectives of audit committees, remuneration committees, execution committees, nomination committees, advisory committees, shareholder grievance committees, and board of directors committees. It also provides a case study on how Infosys established these recommended committees in the late 1990s to improve corporate governance practices in India.

    Original Description:

    comm

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document discusses various committees that can be established for effective corporate governance. It describes the composition, role, and objectives of audit committees, remuneration committees, execution committees, nomination committees, advisory committees, shareholder grievance committees, and board of directors committees. It also provides a case study on how Infosys established these recommended committees in the late 1990s to improve corporate governance practices in India.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    47 views22 pages

    Committee

    Uploaded by

    shankarinadar
    This document discusses various committees that can be established for effective corporate governance. It describes the composition, role, and objectives of audit committees, remuneration committees, execution committees, nomination committees, advisory committees, shareholder grievance committees, and board of directors committees. It also provides a case study on how Infosys established these recommended committees in the late 1990s to improve corporate governance practices in India.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 22

    N.G. ACHARYA & D.K.

    MARATHE COLLEGE

    STD: T.Y. (BANKING & INSURANCE) SUB: BUSINESS ETHICS


    TOPIC: VARIOUS COMMITTEES FOR EFFECTIVE C.G. GROUP NO: 10 SUBMITTED TO: PROF. RAJWADE

    GROUP MEMBERS

    NAME VEENA MOOLYA

    ROLL.NO. 17

    NEELAM PANDEY

    21

    INTRODUCTION
    Corporate governance is "the system by which companies are directed and controlled" It involves a set of relationship between a companys management, its board, its shareholders and other stakeholders It deals with prevention or mitigation of the conflict of interests of stakeholders.
    .

    VARIOUS DIFFERENT COMMITTEES IN C.G.


    Audit committee Remuneration committee

    Execution committee
    Nomination committee Advisory committee Shareholders/investors grievances

    Board of directors committee

    AUDIT COMMITTEE
    Composition

    of audit committee:-

    The audit committee shall have minimum three directors The shall be present at Annual general meeting The company chairman of the a shall be an independent director. Secretary shall act as the secretary to the committee.

    MEETING OF AUDIT COMMITTEE

    The audit committee should meet at least four times in a year The quorum shall be either two members or the one-third of the members of the audit committee whichever is greater,

    POWERS OF THE AUDIT COMMITTEE


    The audit committee shall have powers, which should include the following: To investigate any activity within its terms of reference. To seek information from any employee. To obtain outside legal or other professional advice.

    REMUNERATION COMMITTEE
    The remuneration committee is normally endowed with the responsibility of determining the companys policy on specific remuneration packages for the execution directors including pension rights and any compensation payments.

    COMPOSITION
    Clause

    49 recommended that the committee may comprise of at least three directors, all of whom should be non-executive directors, with the chairman of the committee being an independent director who could be present at the Annual General Meeting to answer the shareholders queries.

    OBJECTIVES OF THE REMUNERATION COMMITTEE.


    Review the remuneration packages of the executive directors and the other top-level managers. Shareholders are becoming concerned about the lack of transparency regarding the remuneration of the directors and the top- level managers

    EXECUTION COMMITTEE
    One

    of the key committee of the board is the execution committee. Companies with large boards sometimes form executive committee, which is a smaller group that meets more frequently than the board. These committees are established and used by the chief executive officer for the major operational decisions.

    NOMINATION COMMITTEE
    A nomination committee researches possible criteria for new directors and then searches for the new directors who meet the criteria decided on by the board. Their basic task is to fill up vacancies on the board and to develop a policy on the size and the composition of the board.

    ADVISORY COMMITTEE
    This committee is basically constituted to advice the board or the management. The board of directors may sometimes feel the need of the expert advice in the certain matters in the regard to which they may have conflicting opinions. In such matters the advisory committee may also advise accordingly for arriving to a consensus.

    SHAREHOLDERS / INVESTORS GRIEVANCES COMMITTEE


    The purpose behind setting up of such a committee is for the speedy disposal of all grievances/ complaints relating to shareholders/ investors.

    Reference to such committee has been made by SEBI in the clause 49 of the listing agreement

    BOARD OF DIRECTORS COMMITTEE


    Composition The board of directors of the company shall have an optimum combination of executive and nonexecutive directors not less than 50 per cent of the board of directors comprising of non-executive directors. Where the chairman of the board is a non-executive director.

    CASE STUDY
    Infosys, one of India's largest software companies. Till late 1990s, corporate governance did not have much significance in India. In 1999, two committees (Confederation of Indian Industries, CII and the Kumar Mangalam Birla Committee) were set up to recommend good governance norms.

    These committees came out with several recommendations, which were made mandatory for the companies to adhere to by 2001. Infosys was one of the first companies in India which had complied with the recommendations made by the committees.

    CORPORATE GOVERNNANCE

    In the late 1990s, the Confederation of Indian Industries (CII) published a code of corporate governance . Infosys had accepted the recommendation of both the CII and the Kumar Mangalam Birla Committee.

    IMPACT OF CORPORATE GOVERNNANCE


    Increasing shareholder wealth Safeguarding the interests of other stakeholders Efficiency of its business plans. Director played an active role in decision making

    You might also like