Now, independent directors could face more scrutiny

The committee on corporate governance, formed by market regulator Sebi in June 2017 under the chairmanship of Uday Kotak, has recommended several changes in current regulations to improve the standards of corporate governance of listed companies in India. The suggestions include those pertaining to independent directors, disclosures on related party transactions, accounting, auditing practices, board evaluation practices, disclosure and transparency-related issues. The public can send their comments on the report by November 4, 2017. Some of the major recommendations of the committee are as follows: