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True test of independent directors lies in their integrity, not box-ticking
Amit Tandon
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At the recent Annual Directors' Conclave, Securities and Exchange Board of India (Sebi) Chairman Tuhin Kanta Pandey delivered his assessment of Indian boards, urging them to swap ceremonial formality for intellectual grit. His central metaphor was that companies are ships with CEOs at the helm, but who watches the compass for 'ethical fog' and 'regulatory icebergs'? Governance, in his view, is less about ticking boxes and more about steering a corporate 'ship' through geopolitical squalls, technological disruption, and fickle public opinion.
Despite India's robust regulatory framework —strengthened by the 2013 Companies Act and Sebi's listing regulations — the chairman identified
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