'Independent directors' role should be fixed'

Posted By: Staff
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New Delhi, Nov 17: Corporate Affairs Minister Salman Khurshid has said the role of independent directors should be fixed by lending transparency to thier job.

Speaking to reporters here, Khurshid said, "They (independent directors) should give claims and disclaimer categorically in writing that they know what their job is. That responsibility could be fixed accordingly."

The multi-crore accounting scam in Satyam Computers, highlighted their role as mere figureheads and raised questions over their functioning.

Independent directors are appointed to company boards to ensure fair play in company affairs as they do not have vested interest in the company.

He said, the Companies Bill define independent directors, their role and responsibility.

Khurshid said, director should also know their potential as to how many companies they can do justice to.

OneIndia News

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