Independent directors key to corporate governance: MP

Inaugurates two-day orientation programme for them

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VISAKHAPATNAM: MP K. Haribabu on Monday said the independent directors of Central Public Sector Enterprises should play a key role in safeguarding the interests of the companies they were representing in the board.

He was speaking after inaugurating a two-day orientation programme for capacity building for newly-appointed independent (non-official) directors of CPSEs here.

The Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises is organising the programme in association with the HPCL.

Additional Secretary, Department of Public Enterprises (Ministry of Heavy Industries) Madhukar Gupta spoke on various laws incorporated in Companies Act, CSR and other rules and mentioned that there were 320 CPSEs, of which 22 functional with a contribution of 14.85% to the GDP.

He said an investment of Rs 11.72 lakh crore had been made in CPSEs, which had a combined turnover of Rs 18.55 lakh crore.

HPCL Visakh Refinery Executive Director G.S.V.S.S.S. Prasad Sarma welcomed the guests.

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