Press Information Bureau

Government of India

Ministry of Corporate Affairs

10-April-2012 12:13 IST

Constitution of a Committee on Corporate Governance

The Ministry of Corporate Affairs has constituted a Committee under the Chairmanship of Shri. Adi Godrej for framing a ‘National Corporate Governance Policy’ to suggest a comprehensive policy frame work to enable corporate governance of highest quality in all classes of companies without impinging on their internal autonomy to order their affairs in their best judgment.

The other Members of the Committee are as under:

Dr. Kiran Mazumdar Shaw,CMD, Biocon Ltd; Shri Sidharth Birla,, FICCI; DG, IICA; Shri M.K. Chauhan, Vice Chairman, Asian Centre for Corporate Governance & Sustainability; Shri R.S. Sharma, former MD, ONGC; Shri G. Ramaswamy, former President, ICAI; Shri Deosthali, L&T; Shri S. Balasubramaniyan, former Chairman, Company Law Board; Shri S.K. Rungta, ex-CMD, SAIL; Shri K.K. Mistry, CFO, L&T; Ms. Ziya Modi, Lawyer; Shri Sudhir Mittal, Additional Secretary in the M/o Corporate Affairs. In addition there will be nominees from the CII, Asshcham and the Institute of Cost Accountants of India as members. The President of ICSI as memer Secretary and Convener of the Committee.

The Committee is expected to make its recommendations within six months from the date of its first meeting after wide consultations with all stakeholders in the corporate sector, academics and members of the public.

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ST/-

Corporate governance policy committee constituted to frame a National Corporate Governance Policy guiding governance standards across companies. A Committee chaired by Shri Adi Godrej with industry, regulatory and professional representatives was constituted to frame a National Corporate Governance Policy recommending a comprehensive governance framework for all classes of companies while respecting their internal autonomy, following wide consultations with corporate stakeholders, academia and the public and delivering recommendations within a defined post inception timeframe.