INDEPENDENTdirectors in listed companies and government nominees in public sector undertakings, public sector financial institutions, other financial institutions and banks won’t be booked for Companies Act violations IN MANYinstances, charges were framed against all the directors of a company, despite the Act exempting certain directors from penal action as they were not directly involved in day-to-day management SPECIALdirectors appointed by BIFR will not face charges for omissions done in good faith and in discharge of duties OFFICIALSasked to take prosecution measures only in case of genuine violations ISSUE of independent directors being hauled up came into the limelight when Nimesh Kampani faced charges for irregularities in Nagarujna Finance. He was an independent director and had quit before an alleged default
WHOSE FAULT IS IT ANYWAY?
No comments:
Post a Comment