On October 18, 2013 InGovern, the indepdendent Indian proxy advisory firm, announced the publication of a special report, “India Proxy Season 2013 Analysis.”
The report analyzes management and shareholder resolutions presented at annual general meetings of a universe of 585 Indian companies, constituents of the S&P500 and BSE 500 indices.
The report also analyzes the corporate governance structure and corporate governance practices of the 100 companies comprising the Nifty and Junior Nifty indices, including: auditor rotation practices, board composition, board size, composition of board committees, contribution of directors at board meetings and role of independent directors,
Shriram Subramanian, founder and MD of InGovern said “Corporate India has a long way to go before adhering to corporate governance best practices. The data stands out with even top companies not treating CG practices in the right spirit. Institutional investors and regulators should demand better practices from promoters and company management. The new Companies Act and initiatives from SEBI to improve corporate governance are steps in the right direction.”