INDIAN INSTITUTE of Management, Indore (IIM-I) and Indore Management Association (IMA) will jointly organise an orientation programme for independent directors. The three-day event will be held at IIM campus, Rau, from December 8. Briefing reporters about the programme, IIM Director Dr S P Parashar said that concept of independent directors gained ground to safeguard the interests of various stakeholders of the listed company.
“The independent directors are more accountable and are required to play an active role in various committees set up by the company for good governance. The demand for competent independent directors has skyrocketed, as clause 49 of listing agreement makes it mandatory for one-third of the listed company’s board to be constituted of independent or outside directors”, he added.
The programme will focus on the changing landscape of corporate governance. Dr Parashar and Dr D L Sunder, Professor, Strategic Management and Entrepreneurship at IIM-I, are the programme directors.
The participants will get to interact with IIM faculty members including the visiting faculty. The programme aims at providing a perspective on issues leading to various regulations like Sarbanes-Oxley Act and the clause 49 of SEBI, the relationship between the company and independent directors, the roles and responsibility of the independent director and corporate governance.
The programme is for independent directorship aspirants, senior managers, regulators, government officers, auditors, company secretaries and independent directors. The programme is non-residential and entails a fee of Rs 7500 per participant. Registration forms are available at IMA office, Jall Auditorium. IMA office-bearers Rakesh Jain, Axay Dube and Santosh Muchhal were also present at the press conference.