tag:blogger.com,1999:blog-3202774368551476669.post1894966886440517750..comments2023-09-15T16:21:31.980+05:30Comments on INDIAN CORPORATE LAW: Hush of the WhistleblowerUmakanth Varottilhttp://www.blogger.com/profile/12438677982004444359noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3202774368551476669.post-42795059810311889662017-03-24T08:56:56.124+05:302017-03-24T08:56:56.124+05:30OFFHAND
“……the moot point is whether, in reality, ...OFFHAND<br />“……the moot point is whether, in reality, independent directors are truly independent and EFFECTIVE.”<br />Presumably, in the context, ‘effective’ postulates, apart from having a sense of / conscience to identify, the right direction to take in regard to any ‘policy decision’, as to be persuasive enough to convince the co-directors to toe the line, with the the objective of ensuring ‘good governance’.<br />“….. whistleblower hotline – managed by A PROFESSIONAL THIRD PARTY who would in-turn verify the credibility of the complaint and the whistleblower….”<br />Here again, is not the same essential factor of the ‘professional’ dispensing the responsibility in a truly ‘independent’ manner coming into play – a sort of vicious circle!<br />On the India Board Report 2015-16, having accessed and given a quick reading of it @ http://hunt-partners.com/…/F…/TheIndiaBoardReport2015-16.pdf :<br />That is an Experts' Report, which makes for an interesting but concerned read; on the vexing , rather irresolute problem faced / confronted with in ensuring 'independence' - that is, with focus on the field of 'corporate governance', the avowed objective is to securing independent 'thinking' and 'acting' by each and every individual functioning as a 'director', more so as an 'independent director'- to meet the expectation of 'trust' placed. The struggle towards achieving the desired objective, through legislation, is as old as the concept of 'corporate' itself.<br />it stands to be gathered from the report that the matter has as ever before remained a wishful thinking, if not a pipe dream. <br />What then is the root cause of the whole problem, or the factor(s) responsible therefor? In an attempt to find some answer or clue , if so wish, may be pleased to listen to the host of videoed interviews with a popular leader of his unique kind- Sachi Vausudev.<br />Taking out of context, but felt to being of relevance, to share :<br />Q<br />When it comes to other aspects of our life, we employ science and tech to make things work. When it comes to religion, we still have silly philosophies and ideologies. Why? This is a movement from religion to RESPONSIBILITY (1). Without turning inward, there is no way you will have yourself THE WAY YOU (2) want yourself to be. When you can approach medicine in a scientific manner, why can’t you approach inner-well being in a logically correct and scientifically verifiable way, I ask?<br />UQ<br />(1) - ideally, towards the rest of the society, in its restricted or broader meaning as the context may warrant !<br />(2)-instead,the way fellow beings, directly concerned, want yourself to be !!<br /><br />Unknownhttps://www.blogger.com/profile/14593271599219087418noreply@blogger.com