Visakhapatnam

Independent directors key to corporate governance: MP

MP K. Haribabu speaking at the inaugural of a two-day workshop in Visakhapatnam on Monday.

MP K. Haribabu speaking at the inaugural of a two-day workshop in Visakhapatnam on Monday.   | Photo Credit: C.V.Subrahmanyam

Inaugurates two-day orientation programme for them

MP K. Haribabu on Monday said the independent directors of Central Public Sector Enterprises should play a key role in safeguarding the interests of the companies they were representing in the board.

He was speaking after inaugurating a two-day orientation programme for capacity building for newly-appointed independent (non-official) directors of CPSEs here.

The Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises is organising the programme in association with the HPCL.

Additional Secretary, Department of Public Enterprises (Ministry of Heavy Industries) Madhukar Gupta spoke on various laws incorporated in Companies Act, CSR and other rules and mentioned that there were 320 CPSEs, of which 22 functional with a contribution of 14.85% to the GDP.

He said an investment of ₹11.72 lakh crore had been made in CPSEs, which had a combined turnover of ₹18.55 lakh crore.

HPCL Visakh Refinery Executive Director G.S.V.S.S.S. Prasad Sarma welcomed the guests.

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Printable version | Jun 6, 2020 7:54:04 AM | https://www.thehindu.com/news/cities/Visakhapatnam/independent-directors-key-to-corporate-governance-mp/article22401805.ece

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