Policy Dialogue on Corporate Governance in India 2006

On 16-17 February 2006, the Indian Ministry of Company Affairs together with the OECD organised the 2006 Policy Dialogue on Corporate Governance in India. The conference addressed the issues of:

the role of the board in dealing with related party transactions
the role of institutional investors in dealing with non-controlling shareholders;
developments on compliance with international accounting and auditing standards;
corporate governance of state owned enterprises, including the OECD Guidelines on Corporate Governance of State-Owned Enterprises
corporate governance and capital markets; and
insolvency and corporate governance. Indian participants and international experts exchanged experiences regarding these issues.

The meeting was co-hosted by The National Foundation for Corporate Governance, The Confederation of Indian Industry, and The Institute of Company Secretaries of India.

Agenda:

Inaugural Session:

Welcome Address Mr. Chandrajit Banerjee, Executive Director NFCG & Senior Director CII
Welcome Address by Mr. Eimon Ueda, Head Outreach Unit, Financial Sector Reforms, OECD
Inaugural Address by Ms. Komal Anand, Secretary, Ministry of Company Affairs
Keynote Adress by Special Invitee: Mr. Sunil Kant Munjal, MD & CEO, Hero Corporate Services Ltd.
Special Address by Mr. Michael Carter, Country Director, World Bank
Address by Chief Guest Mr. Prem Chand Gupta, Union Minister of Company Affairs

Session 1: The Role of the Board in Related Party Transactions

To Chair the Session: Mr. Tejendra Khanna, Chairman, Ranbaxy Laboratries Ltd.
Presentation by Professor Joseph McCahery, Professor of Corporate Governance and Innovation University of Amsterdam, Amsterdam Center for Law and Economics, the Netherlands
Speaker: Mr. Harish Narula, President (Corporate), Lupin Ltd.
Speaker: Mr. Nawshir Mirza, Independent Director

Session 2: Best Practices for Dealing with Non-controlling Shareholders - An Institutional Investors’ Perspective

To Chair the Session: Mr. Nimesh N Kampani, CMD, JM Morgan Stanley
Presentation by Mr. Christian Strenger, Chairman International Corporate Governance Network, Member of the German Government Commission on Corporate Governance, Germany
Presentation by Mr. Mahendra Chouhan, Vice Chairman Asian Centre for Corporate Governance

Session 3: International Standards and Practice for Accounting, Audit and Non-financial Disclosure – Recent Developments

To Chair the Session: Mr. Kamlesh Vikamsey, Past President, ICAI
Speaker: Mr. S.K. Parik, Executive Director, Kesoram Industries Ltd.
Speaker: Mr. T Manoharan, President, ICAI

Session 4: Corporate Governance of State Owned Enterprises

To Chair the Session: Mr. Jagdish Khattar, MD, Maruti Udyog Ltd.
The OECD Guidelines on Corporate Governance of State Owned Enterprises by Mr. Louis Bouchez, Senior Corporate Governance Specialist, Corporate Affairs Division, OECD
The World Bank experience on Corporate Governance of State Owned Enterprises by Mr Olivier Frémond, World Bank
Speaker: Mr. KD Tripathi, Joint Secretary, Department of Public Enterprises.

Session 5: Corporate governance and capital market regulation

To Chair the Session: Mr. Mohan Das Pai, Director, Infosys Ltd.
Presentation by Professor Luca Enriques, Professor of Business Law at the University of Bologna, Faculty of Law, Italy
Presentation by Mr. Rajnikant Patel, ED& CEO, Mumbai Stock Exchange
Presentation by Mr.Ravi Narain, CEO & MD,National Stock Exchange
Presentation by Mr. Ajeet Prasad, Managing Director CEO, ASREC (India) Ltd.

Session 6: Insolvency and Corporate Governance - The Role of the Board in the Twilight Zone

To Chair the Session: Justice A.K. Sikri, Judge Delhi High Court and Senior Vice President of INSOL India.
Discussion by: Mr. Ravindra Gupta, Chairman , BIFR
Presentation by Mr. Neil Cooper, partner of Kroll Corporate Advisory & Restructuring Group, United Kingdom, former President of the European Insolvency Practitioners Association, and INSOL International
Presentation by Mr. Shardul Shroff, Managing Partner Shroff & Company
Presentation by Mr. Lalit Bhasin, President, Bar Association
Speaker : Mr. Sumant Batra, Senior Partner Kesar Dass B & Associates, Advocates & Solicitors

Valedictory Session: Summary and potential follow up

Opening Remarks: Mr. Chandrajit Banerjee, Executive Director NFCG & Senior Director CII
Address: Mr. Louis Bouchez, Senior Corporate Governance Specialist, Corporate Affairs Division, OECD
Address: Mr. Eimon Ueda, Head Outreach Unit, Financial Sector Reforms, OECD
Special Address: Mr. R. Seshasayee, Vice President CII and Managing Director, Ashok Leyland Limited
Valedictory address: Mr. M. Damodaran, Chairman, SEBI
Closing Remarks: Mr. H.M. Choraria, President, Institute of Company Secretaries of India

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