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|Additional Physical Format:||Print version:
Corporate Governance Improving Corporate Governance in India : Related Party Transactions and Minority Shareholder Protection.
Paris : OECD Publishing, ©2014
|Material Type:||Document, Internet resource|
|Document Type:||Internet Resource, Computer File|
|All Authors / Contributors:||
|Description:||1 online resource (66 pages).|
|Contents:||Foreword; Table of contents; Abbreviations and acronyms; Introduction; What are related party transactions and how to prevent abuse; OECD reports on related party transactions; Related party transactions --
India's perspective; Legal framework governing related party transactions in India; The Companies Act; Accounting standards; The Income Tax Act 1961; Equity Listing Agreement; SEBI Circular; Areas to be addressed; Suggestions; Defining related party transactions; Approval of major RPTs by a "majority of the minority"; Pre-approval by the audit committee and third-party evaluation of RPTs. Immediate and continuous disclosures rather than periodic onesRequiring approval by shareholders for divestment of major divisions/subsidiaries; Approval of managerial remuneration by disinterested shareholders; Fiduciary responsibility of controlling shareholders; Improving selection mechanism for independent directors; Clarity on liabilities and on remuneration of independent directors; Providing training to independent directors on the business of the company; Improving investor education for better participation at General Meetings; Provision for regulatory support to class action suits. Establishment of specialised courtsConclusions; Notes; Bibliography; Annex. India Peer Review of Related Party Transactionsand Minority Shareholder Rights, OECD, 2012; The ownership and control of Indian listed companies; The enforcement record; Assessment and conclusions; Annex notes.
|Series Title:||Corporate governance.|