Lok Sabha Question No. 941 (UNSTARRED), answered on 2016-04-29
Subject: Corporate Governance
Ministry: CORPORATE AFFAIRS
Asked by: DUSHYANT SINGH

## GOVERNMENT OF INDIA

## MINISTRY OF CORPORATE AFFAIRS

ANSWERED ON FRIDAY, THE 29TH APRIL, 2016

LOK SABHA UNSTARRED QUESTION NO. 941 [VAISAKHA 9, 1938 (SAKA)]

## CORPORATE GOVERNANCE

## QUESTION

941. SHRI DUSHYANT SINGH:

Will the Minister of CORPORATE AFFAIRS कारपोरेट कार्य मंत्री be pleased to state:

- (a) the details of the initiatives taken by the National Foundation for Corporate Governance (NFCG) during each of the last three years in order to promote better corporate governance practices in the country;
- (b) the details of the events organized by NFCG in collaboration with international institutions like the Organisation for Economic Co-operation and Development and Asian Corporate Governance Association to promote good corporate governance practices during the said period;
- (c) whether  the  number  of  initiatives  taken/events  organised  has  gradually decreased over the last several years; and
- (d) if so, the details thereof along with the reasons therefor?

## ANSWER

THE MINISTER OF CORPORATE AFFAIRS                                 (SHRI ARUN JAITLEY)

कारपोरेट कार्य मंत्री

( श्री अरूण जेटली )

(a): With the objective to develop and strengthen the culture of good Corporate Governance practices, the National Foundation for Corporate Governance (NFCG) has,  over  the  years,  been  working  closely  with  its  Partner  Institutions  viz Confederation of Indian Industry, Institute of Company Secretaries of India, Institute Contd….2/-

of Chartered Accountants of India, Institute of Cost Accountants of India, National Stock  Exchange  and  Indian  Institute  of  Corporate  Affairs  besides  Accredited Institutions/management  institutions  including  Indian  Institutes  of  Technology (IITs)  and  Indian  Institutes  of  Management  (IIMs).  NFCG  conducts  seminars, conferences,  workshops,  directors'  orientation  programmes  etc.  in  collaboration with  these  institutions/organisations  for  promoting  good  corporate  governance practices and to carry out research work on different issues of public importance. Details of these programmes/research work are given in Annexure.

- (b): The  NFCG  had  organized  the  following  programmes  in  collaboration  with International organizations in India -
- i. Corporate Compliance Forum India organized by Lexis Nexis (Hong Kong) on February 24-25, 2009 at Mumbai;
- ii. Asian  Business  Dialogue  on  Corporate  Governance  2008  -  'Corporate Governance in India and Asia: What Comes Next?' was organized by Asian Corporate Governance Association (Hong Kong) on 5th November 2008 at Mumbai;
- iii. Network on Corporate Governance of State-Owned Enterprises in Asia was organized by the Organisation for Economic Co-operation and Development on June 25-26, 2008 at New Delhi.
- (c): Details of events organized, research/studies completed during the last 5 years are given below.

| Year                       |   2011-12 |   2012-13 |   2013-14 |   2014-15 | 2015-16           |
|----------------------------|-----------|-----------|-----------|-----------|-------------------|
| Events organized           |        22 |        34 |        24 |        22 | 19* (provisional) |
| Research Studies completed |        03 |        06 |        04 |        09 | 04                |

Contd…..3/-

⃰

(d): Proposals  from  partner/accredited  institutions  for  organising  events  are approved  depending  upon  relevance  and  suitability.    Therefore,  the  number  of events may vary from year to year.

The figure of research work and studies may vary from year to year depending upon the time taken by the partner / accredited institutions to complete the commissioned research/ study.

*****

## A. Events

|   Sr. No. | Institution                               | Title                                                                                                   | Date             | Place     |
|-----------|-------------------------------------------|---------------------------------------------------------------------------------------------------------|------------------|-----------|
|         1 | Institute of Company Secretaries of India | 8th International Conference on Corporate Governance : Responsible Investment, Governance and Reporting | 20 June 2013     | Prague    |
|         2 | Institute of Public Enterprise, Hyderabad | Board Orientation Programme                                                                             | 12 -14 Sept 2013 | Manali    |
|         3 | Confederation of Indian Industry (CII)    | Seminar on Towards Inclusive Employment- Workshop on Equal Opportunity For Persons With Disability      | 13 Sept 2013     | Mumbai    |
|         4 | Confederation of Indian Industry (CII)    | Conference on Companies Act 2013                                                                        | 16 Sept 2013     | Mumbai    |
|         5 | Indian Chamber of Commerce, Kolkata       | Workshop on Corporate Governance & Shareholders right                                                   | 20 Sept 2013     | Kolkata   |
|         6 | Confederation of Indian Industry (CII)    | Governance Series - Company Act: The Dawn of a New Era                                                  | 20 Sept 2013     | New Delhi |
|         7 | Institute of Public Enterprise, Hyderabad | Board Orientation Programme                                                                             | 26-27 Sept 2013  | New Delhi |
|         8 | Confederation of Indian Industry (CII)    | National Summit on CSR                                                                                  | 30 Sept 2013     | New Delhi |
|         9 | Indian Institute of Forest Management     | CSR India Conclave 2013                                                                                 | 4 Oct 2013       | Bhopal    |
|        10 | Shri Ram College of Commerce, Delhi       | International conference on Corporate Governance                                                        | 7-9 Oct 2013     | Bangkok   |
|        11 | Confederation of Indian Industry (CII)    | 8 th Sustainability Solutions Summit                                                                    | 14-15 Oct 2013   | New Delhi |

## Annexure

## ANNEXURE REFERRED TO REPLY TO PART (a) OF LOK SABHA UNSTARRED QUESTION NO. 941 FOR 29.04.2016

## NATIONAL FOUNDATION FOR CORPORATE GOVERNANCE

## NFCG INITIATIVES

(Financial Year 2013- 2014)

|   12 | Confederation of Indian Industry (CII)                    | National CSR-CSO Bridge                                                                                                                         | 2-3 Dec 2013       | New Delhi   |
|------|-----------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|-------------|
|   13 | National Foundation for Corporate Governance              | Conference on Corporate Governance                                                                                                              | 12-13 Dec 2013     | Chennai     |
|   14 | Symbiosis Institute of Management Studies, Pune           | Seminar on Best Practices in SMEs and Their Relevance to Corporate Governance Issues                                                            | 14 Dec 2013        | Pune        |
|   15 | Confederation of Indian Industry (CII)                    | 9th Corporate Governance Summit                                                                                                                 | 20 Dec 2013        | Mumbai      |
|   16 | Sri Aurobindo Foundation of Integral Management           | Seminar on The Corporate and the Community (CSR) - Towards a Creative Integration or Sustainability - Corporate Evolution through Consciousness | 18 Jan 2014        | New Delhi   |
|   17 | Institute of Public Enterprise, Hyderabad                 | Board Orientation Programme                                                                                                                     | February 6-8, 2014 | Hyderabad   |
|   18 | Confederation of Indian Industry (CII)                    | Job Fair- Towards Inclusive Employment: Equal Opportunities for Persons with Disabilities                                                       | 26 Feb 2014        | Mumbai      |
|   19 | Confederation of Indian Industry (CII)                    | Governance Series: Governance Reforms - Challenges & Way Forward                                                                                | 28 Feb 2014        | New Delhi   |
|   20 | Symbiosis Institute of Management Studies, Pune           | National Declamation Contest -'Relevance of Independence in Corporate Governance: The Role of Independent Directors - Issues and Challenges.    | 1 Mar 2014         | Pune        |
|   21 | Indian Chamber of Commerce                                | Conference on Corporate Governance in Financial Institutions and NBFCs                                                                          | 7 Mar 2014         | Kolkata     |
|   22 | International Management Institute- Kolkata               | National Workshop on Corporate Governance                                                                                                       | 21 Mar 2014        | Kolkata     |
|   23 | Sri Aurobindo Foundation of Integral Management           | Workshop on Corporate Governance through Consciousness - Self Governing Leadership'                                                             | 21-23 Mar 2014     | Pondicherry |
|   24 | The West Bengal National University Of Juridical Sciences | Faculty Development Programme on Corporate Governance Issues                                                                                    | 28 Mar 2014        | Kolkata     |

## B. Research Work / Study Completed

|   Sr. No. | Institution                                          | Title                                                                                                    |
|-----------|------------------------------------------------------|----------------------------------------------------------------------------------------------------------|
|         1 | Confederation of Indian Industry (CII)               | Study of impact of CSR activities of companies working in collaboration with public agencies             |
|         2 | Confederation of Indian Industry (CII)               | CSR in Practice - 2013 Edition                                                                           |
|         3 | The Energy and Resources Institute (TERI), New Delhi | Study on Developing Ethical Practices and Promoting Sustainability Reporting in Corporate India          |
|         4 | Symbiosis Institute of Management Studies, Pune      | Investigation Corporate Governance Practices in to-be listed Small and Medium Enterprises in Pune Region |

## A. Events

|   Sr. No. | Institution                                  | Title                                                                                                                          | Date              | Place         |
|-----------|----------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------|-------------------|---------------|
|         1 | Confederation of Indian Industry (CII)       | Governance Series: New Paradigm, New Concepts and New Challenges                                                               | 29 Apr 2014       | New Delhi     |
|         2 | National Foundation for Corporate Governance | Interactive Session on 'Implementing Companies Act, 2013                                                                       | 21 Jun 2014       | New Delhi     |
|         3 | Confederation of Indian Industry (CII)       | Conference on Global M&A Market: Creating Winning Strategies in India Facilitating Corporate Growth Through Regulatory Reforms | 27 Jun 2014       | Mumbai        |
|         4 | Institute of Company Secretaries of India    | 9th International Conference on Covergence of Company Law and Corporate Governance                                             | 6 July 2014       | Malaysia      |
|         5 | Institute of Public Enterprise, Hyderabad    | Board orientation Programme for Women Directors - Its' Her Time on the Board                                                   | 18-19 July 2014   | Hyderabad     |
|         6 | Institute of Company Secretaries of India    | Seminar on Governance, Administration & Management of Companies under the Companies Act 2013                                   | 1 - 2 August 2014 | New Delhi     |
|         7 | Institute of Company Secretaries of India    | Seminar on Companies Act 2013, Rules made thereunder & its implementation                                                      | 8 Aug 2014        | Ludhiana      |
|         8 | Institute of Company Secretaries of India    | Seminar on Companies Act 2013, Rules made thereunder & its implementation                                                      | 9 Aug 2014        | Chandigar h   |
|         9 | Institute of Company Secretaries of India    | Seminar on Companies Act 2013, Rules made thereunder & its implementation                                                      | 31 Aug 2014       | Kanpur        |
|        10 | Confederation of Indian Industry (CII)       | Conference on Corporate Disclosure                                                                                             | 2 Sept 2014       | New Delhi     |
|        11 | Institute of Company Secretaries of India    | Seminar on Companies Act 2013, Rules made thereunder & its implementation                                                      | 14 Sept 2014      | Faridabad     |
|        12 | Confederation of Indian Industry (CII)       | 9th Sustainability Summit (International)                                                                                      | 16 - 17 Sept 2014 | New Delhi     |
|        13 | Shri Ram College of Commerce, Delhi          | International Conference on Corporate Governance                                                                               | 24-25 Sept 2014   | Michigan, USA |

## (Financial Year 2014- 2015)

|   14 | Institute of Company Secretaries of India       | Seminar on Companies Act 2013, Rules made thereunder & its implementation & Roles of Company Secretary under other Acts   | 27 Sept 2014   | Gurgaon     |
|------|-------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------|----------------|-------------|
|   15 | Institute of Company Secretaries of India       | Seminar on Companies Act 2013, Rules made thereunder & its implementation                                                 | 28 Sept 2014   | Bhilwara    |
|   16 | Confederation of Indian Industry (CII)          | CFO Sessions - In conversation with Mr Colm O Higgins, Group CFO, SITA                                                    | 30 Oct 2014    | Mumbai      |
|   17 | Indian Institute of Forest Management, Bhopal   | CSR India Conclave 2014                                                                                                   | 13 Nov 2014    | Bhopal      |
|   18 | Confederation of Indian Industry (CII)          | CFO Session on IFRS                                                                                                       | 13 Nov 2014    | New Delhi   |
|   19 | Symbiosis Institute of Management Studies, Pune | Seminar on the Corporate Governance Code for SMEs - The Foundation for Growth and Sustainability in India                 | 20 Dec 2014    | Pune        |
|   20 | Symbiosis Institute of Management Studies, Pune | National Declamation Contest - Internal Control Framework - A formal process for identifying significant business risks   | 7 Mar 2015     | Pune        |
|   21 | Institute of Company Secretaries of India       | National Seminar on Companies Act - Secretarial Audit                                                                     | 13 Mar 2015    | Chandigar h |
|   22 | Confederation of Indian Industry (CII)          | CFO Session - Interaction on the implementation issues under the Companies Act 2013                                       | 20 Mar 2015    | New Delhi   |

## B. Research Work / Study Completed

|   Sr. No. | Institution                                           | Title                                                                                                                            |
|-----------|-------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|
|         1 | Indian Institute of Management Shillong               | Role of Independent Directors - Enhancing or otherwise of the Shareholders Wealth - An Empirical Investigation                   |
|         2 | Narsee Monjee Institute of Management Studies (NMIMS) | Research report on Perception among the Entrepreneurs of Small and Medium Enterprises about the Benefits of Corporate Governance |

|   3 | Indian Institute of Management, Bangalore (IIMB)        | Additional Research on Corporate Board Interlocks : Identifying influential Directors through analysis of boards interlocks during the period 2010 - 2012                                     |
|-----|---------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   4 | Indian Institute of Technology, Kharagpur               | Report on Corporate Governance in Energy Sector in India                                                                                                                                      |
|   5 | Institute of Company Secretaries of India               | Directors Handbook                                                                                                                                                                            |
|   6 | SP Jain Institute of Management Research                | A Study on Risk Management and Internal Controls in Medium Sized Family Managed Listed Companies (An Assessment of the Current Architecture for Risk Management and Internal Control Systems) |
|   7 | Indian Institute of Management, Bangalore               | A Comparative Perspective of Sustainability Reporting Practices in Indian and Global Firms                                                                                                    |
|   8 | Management Development Institute (MDI)                  | A Study on the state of Gender Diversity in Indian Corporate Boardrooms                                                                                                                       |
|   9 | Administrative Staff College of India, Hyderabad (ASCI) | Research study report on Assessment of Corporate Governance Practices in State Level Public Enterprises of Andhra Pradesh & Telangana                                                         |

## (Financial Year 2015- 2016)

## A. Events*

|   Sr. No. | Institution                                      | Title                                                                                                | Date        | Place     |
|-----------|--------------------------------------------------|------------------------------------------------------------------------------------------------------|-------------|-----------|
|         1 | Indian Chamber of Commerce                       | Conference on Corporate Governance in Capital Market                                                 | 25 Apr 2015 | Kolkata   |
|         2 | Confederation of Indian Industry (CII)           | National Summit on CSR                                                                               | 29 Apr 2015 | New Delhi |
|         3 | S.P. Jain Institute of Management & Research     | Round Table on Risk Management and Internal Controls in Medium Sized Family Managed Listed Companies | 12 Jun 2015 | Mumbai    |
|         4 | Institute of Company Secretaries of India (ICSI) | 10 th International Conference on Make in India new imperative and Corporate Governance              | 22 Jun 2015 | Sweden    |

|   5 | Institute of Public Enterprise, Hyderabad                | Board orientation Programme for Directors                                                                                                           | 27-28 June 2015   | Hyderabad    |
|-----|----------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------|-------------------|--------------|
|   6 | Sri Aurobindo Foundation for Integral Management (SAFIM) | Workshop on Corporate Governance through Consciousness - Self Governing Leadership                                                                  | 3 & 4 July 2015   | Pondicherr y |
|   7 | Confederation of Indian Industry (CII)                   | CII Governance Series- Breakfast Session with Mr. Adi Godrej                                                                                        | 22 Jul 2015       | Mumbai       |
|   8 | Confederation of Indian Industry (CII)                   | Conference on Financial Reporting                                                                                                                   | 29 Jul 2015       | New Delhi    |
|   9 | NALSAR, Hyderabad                                        | National Moot Court competition for Students                                                                                                        | 14-16 Aug 2015    | Hyderabad    |
|  10 | Confederation of Indian Industry (CII)                   | 10th Sustainability Summit (International)                                                                                                          | 15-16 Sept 2015   | New Delhi    |
|  11 | Confederation of Indian Industry (CII)                   | CII Governance Series- Breakfast Session with Mr. Sanjiv Goenka                                                                                     | 16 Sept 2015      | Kolkata      |
|  12 | Indian Chamber of Commerce                               | Conference on Corporate Social Responsibility- Growing Trend of Comply or Explain                                                                   | 19 Sept 2015      | Kolkata      |
|  13 | Institute of Public Enterprise, Hyderabad                | Board orientation Programme for Directors - (2 days programme)                                                                                      | 23-25 Sept 2015   | Hyderabad    |
|  14 | Symbiosis Institute of Management Studies, Pune          | Round Table on Outcomes of earlier completed Research Project - 'Investigating Corporate Governance Practices in to-be- listed SMEs in Pune Region' | 31 Oct 2015       | Pune         |
|  15 | Confederation of Indian Industry (CII)                   | 10th Corporate Governance Summit (International)                                                                                                    | 8 Dec 2015        | Mumbai       |
|  16 | Confederation of Indian Industry (CII)                   | CII Governance Series- Breakfast Session with Mrs. Chanda Kochhar                                                                                   | 9 Dec 2015        | Mumbai       |
|  17 | Symbiosis Institute of Management Studies, Pune          | Conference on adopting a Good Corporate Governance Framework - Challenges and Solutions for SMEs.                                                   | 19 Dec 2015       | Pune         |
|  18 | Institute of Company Secretaries of India (ICSI)         | Make in India Week                                                                                                                                  | 13 -18 Feb 2015   | Mumbai       |
|  19 | Indus Business Academy (Adhoc)                           | Workshop on Financial Literacy for Working Women                                                                                                    | 17 Mar 2016       | New Delhi    |

|   Sr. No. | Institute                                               | Title                                                                                                                   |
|-----------|---------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------|
|         1 | Administrative Staff College of India, Hyderabad (ASCI) | Research Study on Assessment of Corporate Governance Practices in the SMEs in Andhra Pradesh, Telangana and Maharashtra |
|         2 | Confederation of Indian Industry (CII)                  | CSR Study- Ripple effect for change…                                                                                    |
|         3 | Shri Ram College of Commerce                            | Research project 'Corporate Governance Practices in Asia'                                                               |
|         4 | International Management Institute, Kolkata             | Research on Does good Corporate Governance lead to Enhanced Business Value?                                             |

*****