Institutional EYE

Commentary on Corporate Governance Issues

Ricoh India: Why Indian corporates should listen up

The developments at Ricoh India hold out two lessons for Corporate India. One the parent has, in all but name has owned up to sleeping at the wheel and is making minority investors whole again: Ricoh Japan has spelt out an elegant solution to its India problems. Two the minority shareholders have requisitioned an extra-ordinary general meeting, asking the audit committee to be sacked sending a strong signal that Corporate India’s governance failures will increasingly be met with a muscular response. Ricoh India missed filing both the 30 Sept. 15 and 31 Dec. 15 quarterly results. The company initially tried to brush aside the delay stating that the new auditors, BSR & Co. LLP (BSR) appointed

Governance norms: Direction or diktat?

Highlights from the IGCN Annual Conference, held in San Francisco this year. The discussion about US experience with gender diversity on boards at the ICGN event, contrasts with the Indian experience. This shows that companies tend to wait for regulations to change, before implement change. Given such an attitude, regulators need to do a balancing act: regulate the basic requirements of good governance while remaining directional about others. The International Corporate Governance Network (ICGN) annual event is one of the few must attend events for Corporate Governance buffs. The theme this year was “Promoting long-term thinking and behavior for sustainable capital markets,” so ESG, Sustain

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