Unleashing The Watchdogs: Evaluation Of Independent Directors In India's Corporate Governance Ecosystem
- IJLLR Journal
- Jun 24
- 1 min read
Anika Balal & Lekhana Wesley, Symbiosis Law School, Pune
ABSTRACT
The presence of an independent directors in India's corporate governance ecosystem is a step towards ensuring transparency and accountability. However, the implementation of the system has several loopholes. This paper evaluates the current legislative framework for independent directors in India while taking into account judicial pronouncements. It also critically analyzes the regime and compares the progress with that of the UK and the US. The paper provides recommendations to improve the system, including prioritizing the appointment of independent directors with relevant expertise and experience, ensuring that the proposed independent director fulfills pre- determined criteria, providing sufficient information and resources to independent directors, defining and communicating their roles and responsibilities, and providing ongoing training and development opportunities.
Keywords: Accountability, Corporate governance, Expertise, Fairness, Independent Directors, Liability, Transparency.
