tag:blogger.com,1999:blog-3202774368551476669.post926985120366175427..comments2023-09-15T16:21:31.980+05:30Comments on INDIAN CORPORATE LAW: The Tata Sons Imbroglio: Whither Corporate Governance?Umakanth Varottilhttp://www.blogger.com/profile/12438677982004444359noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3202774368551476669.post-20748311662569070302016-10-28T07:18:24.494+05:302016-10-28T07:18:24.494+05:30OFFHAND (sporadic thoughts to share):
“More impor...OFFHAND (sporadic thoughts to share):<br /><br />“More importantly, listed companies and their boards must be in a state of preparedness to deal with issues that occur at the promoter level, whether it be succession or any other disputes.”<br /><br />None,particularly the stakeholders with ultimate vested interests,let alone the promoters, including minority shareholders, by reason of the multiple facets of the mind boggling nature of the intricacies involved, may not prudently wish to go into/ get embroiled in the ongoing controversy; that is, about the propriety in/ legality of the removal of the person from his prestigious position in the no less prestigious corporate group.<br /> <br />Nonetheless, the ball of controversy having been kicked and set rolling, there is, in one’s independent perspective, a very important facet that could be expected to be raised and thrashed out. That is, the aspect covered in the media report, varyingly, for instance HERE "Gloves come off as Mistry levels grave charges against Ratan Tata" (Businessline).<br /> <br />What calls for a special focus is two dimensional:<br /> <br />A) The propriety or legality of such statements openly made, more so by a person who has been on the Board and occupying a seat of ‘trust’; and<br /> <br />B) its potential for but seemingly inevitable consequences,in the long run,to the detriment of the outstanding good image of each and every one of the group companies, and in turn, impairing the interests, in terms of simply money value, of the stakeholders.<br /> <br />May be, truly enlightened , eminent experts on company law wish to address the above mostly-common- sense viewpoints , in a better perspective , for sake of clarity as may be found wanting. <br />vswaminoreply@blogger.com