FICCI Ladies Organisation, Hyderabad Chapter, is exploring the possibility of offering a specialised training module for members to become independent directors in listed companies.
“We want to make our members `Board-ready',” Chapter’s chairperson Rekha Lahoti said on Monday, while highlighting the significant demand for independent directors that has arisen as a result of the new Companies Act, 2013.
Citing estimates that peg the requirement of independent directors at 40,000, she said FLO-Hyderabad is discussing with consultancy firm KPMG whether a programme “specially designed” could be made available to the members. The objective, she told The Hindu, is to not just spread the word on the opportunity but also to orient them on the requirements, especially prepare them to ask questions, and impart soft skills.
The Companies Act 2013 has made it mandatory for all listed companies to have at least one-third of the total directors as independent directors. Also, a certain class of companies are required to have at least one women director. Companies not complying with norms face penal action. FLO Hyderabad cited a report which said that one-third of the companies listed on the National Stock Exchange does not have women directors on their Boards.
Ms.Lahoti, speaking on the workshop and interactive session conducted by FLO-Hyderabad on women corporate director here, said the number of listed companies in the city alone is 520. She added that many members are keen on equipping themselves to take up responsibilities of independent directors.
Head of Advisory KPMG in India Utkarsh Palnitkar, among those who addressed the workshop, underscored the need for independent and women directors to be more participative in the Board meetings. The workshop was conducted by FLO-Hyderabad in association with KPMG Governance Institute and Women Corporate Director (WCD-India). Taj GVK Hotels & Resorts executive director Shalini Bhupal highlighted the significance of thorough research before attending Board meetings.
