Some Independent Directors on boards for over 20 years: Study

Oct 20 2013, 13:04 IST
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The performance of Indian companies has been found to be disappointing on parameters like attendance of directors. Reuters The performance of Indian companies has been found to be disappointing on parameters like attendance of directors. Reuters
SummaryPainting a dismal picture of corporate governance practices in listed companies in India...

tenure of 28 years on Ambuja Cements' board, T K Balaji (27 years on Titan Industries), M L Apte (26 years on Grasim Industries) and Yogendra P Trivedi (21 years on Reliance Industries).

Also, the report said that the average outside directorship of Independent Directors among top 100 companies is four, while 8 per cent of Independent Directors on an average are present on boards of over 10 public companies.

It further said that 17 per cent of directors on an average in these 100 companies attend less than 75 per cent of board meetings, even though Corporate Affairs Ministry has allowed attendance of such director by video or telephone.

Moreover, the average number of board meetings held by top 100 Indian companies is seven, the report said.

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