Chairman addresses CII Conference on Corporate Governance
January 26, 2014
Mr B Muthuraman, Chairman of Tata International, delivered the keynote address at the Conference on Corporate Governance organised by the National Foundation for Corporate Governance (NFCG) and the Confederation of Indian Industries (CII). The main objective of the Conference, held at Chennai on December 12-13, 2013, was to deliberate on the challenges of complying with the new corporate governance requirements and encourage companies to adopt a strategic approach to meet these challenges. Mr Sachin Pilot, Minister of State for Corporate Affairs, delivered the inaugural address. Other eminent speakers included Mr Naved Masood, Secretary, Ministry of Corporate Affairs; Mr Chandrajit Banerjee, Director General, Confederation of Indian Industry; and Mr Simon Walker, Director General, Institute of Directors, UK; and Directors of several large Indian corporations.
Mr Muthuraman emphasised that business corporations have been the prime engine of growth, bringing economic prosperity to millions of people. The need was to make sure that corporations evolve well, in the larger context of society, rather than aiming only at financial control through laws. He reiterated commitment to Corporate Social Responsibility (CSR) and touched upon areas covered by the proposed New Companies Act 2013 such as the mandatory nature and implementation process of CSR, the choosing of Independent Directors and their role in the governance of the company.