The Program equips 90 distinguished defence officers with comprehensive knowledge in corporate governance and independent directorship

DG & CEO, IICA highlights strategic thinking, risk assessment experience, ethical framework and under pressure objectivity in defence officers as enablers of impartial voices in corporate boardrooms

The Indian Institute of Corporate Affairs (IICA) in partnership with the Directorate General Resettlement (DGR), Ministry of Defence successfully concluded the Third Batch of its Directors' Certification program in Corporate Governance for Defence Officers on 21^st November 2025 at the IICA Campus in Manesar, Gurugram. The two-week certification program trained 30 senior officers, serving as well as recently superannuated, representing all the three services. With this batch, the program has successfully equipped 90 distinguished defence officers with comprehensive knowledge in corporate governance and independent directorship across three batches conducted since August 2024.

The valedictory ceremony had addresses from eminent dignitaries. The DG & CEO, IICA, Shri Gyaneshwar Kumar Singh, delivered the welcome address. The former Secretary, Government of India, Secretary of Prime Minister's Economic Advisory Council, and currently Distinguished fellow at the Isaac Centre for Public Policy at Ashoka University, Dr. K P Krishnan, delivered the inaugural address. Furthermore, the keynote address was given by the Secretary, Department of Ex-Servicemen Welfare, Ministry of Defence, Smt. Sukriti Likhi.

In the welcome address, the DG & CEO, IICA congratulated participants on completing the intensive two-week program that covered 35 specialized sessions spanning corporate governance frameworks, regulatory provisions, financial stewardship, audit committee functions, enterprise risk management, CSR, and sustainable governance. He highlighted the strong alignment between existing military strengths and the competencies required for effective independent directorship. He underscored strategic thinking, risk assessment experience, ethical framework, and ability to remain objective under pressure uniquely position defence officers to serve as impartial voices in corporate boardrooms. He acknowledged the strong partnership with DGR. He also highlighted IICA's commitment to support participants beyond the program through continued education opportunities and professional networking.

Dr. K P Krishnan in his inaugural note, provided participants with insights into the fundamental principles of corporate governance and the role of independent directors. He emphasized that independent directors serve as protectors of those who cannot protect themselves, particularly minority shareholders and other stakeholders who lack representation in decision-making bodies. He highlighted that the role primarily involves fiduciary duties towards various stakeholders, where balancing rather than maximizing is the essence of this responsibility. Participants were reminded that beyond understanding technicalities, sector domains and company specifics, their three decades of experience in management of people and material to optimize outcomes in a balanced and judicial way directly prepares them for independent directorship roles.

The keynote address by the Secretary ESW, highlighted the continued engagement between IICA and DGR in creating pathways for defence personnels to contribute their exceptional leadership capabilities to the civilian corporate sector. Her valuable insights provided participants with practical understanding of the governance landscape and opportunities available for defence officers transitioning to corporate roles. She underscored the strategic importance of this partnership in addressing the growing need for dynamic, visionary and ethical board members in Indian corporates while leveraging the unique skills and experiences of defence personnel.

The two-week intensive program was designed to orient participants with conceptual and regulatory understanding of corporate governance, preparing them to serve effectively as board members in public and private sector companies. The comprehensive curriculum covered corporate governance principles, board structures and effectiveness, roles and responsibilities of independent directors, regulatory framework under Companies Act 2013 and SEBI LODR regulations. Further it incorporated financial statement analysis, audit committee functions, enterprise risk management, corporate social responsibility and ESG considerations. The program employed diverse teaching methodologies including classroom lectures by subject matter experts, case study discussions, interactive sessions with practicing independent directors and experiential learning opportunities. The program aimed at bridging the knowledge gap between military and corporate contexts through sessions featuring experienced practitioners on parallel profession experiences, evolving as an independent director, and experiential learning from corporate and public sector leadership. The certification positions participants to register with the Independent Directors' Databank (IDDB), a Ministry of Corporate Affairs’ initiative, managed by IICA, which currently has over 35,000 registered independent directors including more than 10,000 women independent directors, with over 3,600 registered companies utilizing this talent pool.

This partnership between IICA and DGR represents a strategic initiative to create pathways for defence personnel to contribute their exceptional leadership capabilities to the civilian corporate sector while addressing the growing need for dynamic, visionary and ethical board members in Indian corporates. The program underscores the convergence between military values of trust, integrity and strategic thinking with the core principles of effective corporate governance. The program proceedings were conducted and coordinated by Dr. Niraj Gupta, Head- School of Corporate Governance & Public Policy, IICA and Dr. Anindita Chakrabarti, Principal Research Associate, Centre for Independent Director Secretariat, IICA respectively.

Defence officers trained in corporate governance and independent directorship, emphasizing fiduciary duties and regulatory compliance. The two-week Directors' Certification program trained defence officers in corporate governance, board roles, financial stewardship, audit committee functions, enterprise risk management, CSR and ESG, addressed the regulatory framework under the Companies Act and SEBI LODR, emphasised fiduciary duties to stakeholders including protection of minority interests, and positioned participants to register with the Independent Directors' Databank managed by IICA.