Being a good corporate citizen involves acting in an ethical manner. Just as ethical values are necessary for a company, these values and ethics are the moral backbone of its Board of Directors also. The Institute of Business Ethics, London defines business ethics as –
“Business ethics is the application of ethical values to business behavior. It applies to any and all aspects of business conduct, from Boardroom strategies and how companies treat their employees and suppliers to sales techniques and accounting practices. Ethics goes beyond the legal requirements for a company and is, therefore, about discretionary decisions and behavior guided by values. Business ethics is relevant both to the conduct of individuals and to the conduct of the organization as a whole.” Business ethics is a Code of moral conduct for the business, which specifies that the business should achieve growth and profits in a socially and legally responsible manner and is accountable for its decisions to the internal and external stakeholders and the public at large. Developing Codes of Conduct for a Corporate Board of Directors Read More >>
Heralding the evolution of this most contemporary modus operandi, parties direly in need of compelling interim relief before the formation of an Arbitral Tribunal can avail of emergency arbitration procedures. This inevitable requirement has persuaded Arbitral institutions to formulate procedures for remedying the emergent predicament by means of expedited or Emergency Arbitration in lieu of parties rushing to Courts or awaiting anxiously for the creation of the Arbitral Tribunal. Parties can avail of Emergency relief either through the appointment of an Emergency Arbitrator (EA) or through the expeditious and pragmatic constitution of the Tribunal. Read More >>
One of the most conspicuous features of the Indian Companies Act 2013 is the mandate that every Listed Company /Public Company with paid up capital of Rs. 100 Crores or more / Public Company with turnover of Rs. 300 Crores or more shall have at least one Woman Director.
In July 2015 the National Stock Exchange issued notices to 260 companies including 145 suspended firms for their alleged failure to comply with the SEBI norms to appoint at least one woman director on their respective boards by 1st April 2015. By October, 2015 Bombay Stock Exchange had fined 370 firms for not complying with the Securities and Exchange Board of India’s norms to appoint at least one woman director on their respective boards within the prescribed timelines. Read More >>