• India CSR Awards 2025
  • Guest Posts
Thursday, August 28, 2025
  • Login
India CSR
  • Home
  • Corporate Social Responsibility
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Education
    • Gender Equality
    • Around the World
    • Skill Development
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • ESG
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Interviews
  • SDGs
    • No Poverty
    • Zero Hunger
    • Good Health & Well-Being
    • Quality Education
    • Gender Equality
    • Clean Water & Sanitation – SDG 6
    • Affordable & Clean Energy
    • Decent Work & Economic Growth
    • Industry, Innovation & Infrastructure
    • Reduced Inequalities
    • Sustainable Cities & Communities
    • Responsible Consumption & Production
    • Climate Action
    • Life Below Water
    • Life on Land
    • Peace, Justice & Strong Institutions
    • Partnerships for the Goals
  • Articles
  • Events
  • हिंदी
  • More
    • Business
    • Finance
    • Environment
    • Economy
    • Health
    • Around the World
    • Social Sector Leaders
    • Social Entrepreneurship
    • Trending News
      • Important Days
        • Festivals
      • Great People
      • Product Review
      • International
      • Sports
      • Entertainment
    • Case Studies
    • Philanthropy
    • Biography
    • Technology
    • Lifestyle
    • Sports
    • Gaming
    • Knowledge
    • Home Improvement
    • Words Power
    • Chief Ministers
No Result
View All Result
  • Home
  • Corporate Social Responsibility
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Education
    • Gender Equality
    • Around the World
    • Skill Development
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • ESG
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Interviews
  • SDGs
    • No Poverty
    • Zero Hunger
    • Good Health & Well-Being
    • Quality Education
    • Gender Equality
    • Clean Water & Sanitation – SDG 6
    • Affordable & Clean Energy
    • Decent Work & Economic Growth
    • Industry, Innovation & Infrastructure
    • Reduced Inequalities
    • Sustainable Cities & Communities
    • Responsible Consumption & Production
    • Climate Action
    • Life Below Water
    • Life on Land
    • Peace, Justice & Strong Institutions
    • Partnerships for the Goals
  • Articles
  • Events
  • हिंदी
  • More
    • Business
    • Finance
    • Environment
    • Economy
    • Health
    • Around the World
    • Social Sector Leaders
    • Social Entrepreneurship
    • Trending News
      • Important Days
        • Festivals
      • Great People
      • Product Review
      • International
      • Sports
      • Entertainment
    • Case Studies
    • Philanthropy
    • Biography
    • Technology
    • Lifestyle
    • Sports
    • Gaming
    • Knowledge
    • Home Improvement
    • Words Power
    • Chief Ministers
No Result
View All Result
India CSR
No Result
View All Result
Home More

The CSR culture won’t grow naturally; it has to be nurtured: Dr M. Veerappa Moily

India CSR by India CSR
September 23, 2011
in More
Reading Time: 4 mins read
Share Share Share Share

India CSR News Networ

MUMBAI: As the season of corporate scams stretches longer and longer, the pitch for a clean-up has become shriller. In such a milieu, a soul searching introspective debate on the state of corporate governance in India Inc. was just what the doctor ordered and what Corporate Dossier Corporate Governance Seminar 2011 delivered.

Over three engaging panel discussions, a cross section of corporate heavyweights debated and discussed the role of boards and board members last week, at the ballroom of the Taj in Mumbai. Anjali Bansal, MD of Spencer Stuart India, kicked off the first discussion on the role of boards in succession planning.

Former SEBI Chief M Damodaran didn’t waste time in coming down to brass tacks. The ex-regulator hit the nail on its head when he said, “Corporate India has only paid lip service to succession planning.”

His sentiment was echoed by the other members of the panel. Eminent lawyer Cyril Shroff said that while he believes there are heightened levels of awareness about succession planning, thanks to opportunities and globalisation, a huge amount still remains to be done: “Companies that want to be at the top of their game, have to plan ahead.”

The panelists felt many boards are not even aware that creating a leadership pipeline for top positions was one of their core tasks. On being asked how Mahindra Group handles succession planning at the board level, Arun Nanda said, “Instead of looking at a set of resumes, we encourage our board to meet people from senior management who are up to two levels below the CEO.”

The second session of the day was just as spirited, as they dissected the topic, “Is good governance rewarded?” Though all the panelists agreed that good governance gets rewarded by its investors, customers and employees, each felt some key elements were missing. Panelist Jayant Sinha, partner & managing director, Omidiyar Network India Advisors, said, “If the company is being managed for the benefit of the owner and his family, through dynastic succession and other means, you cannot expect good corporate governance.” Vimal Bhandari, managing director & CEO, Indostar Capital Finance, said Indian business houses are going through a transition towards and check and balances can help in course correction. “In a bid to grow their business, first generation entrepreneurs are often prepared to overstep the line and do things that are not ethically correct.

Institutional investors on the board need to rein them in at such times.” Meera Sanyal, chairperson and country head of Royal Bank of Scotland, was optimistic, citing the recent anti-corruption events as part of the larger change that will bring about better governance. “As a society, we are trying to fix things,” she said. “For example, when we were hit by stock market scams, we went and created a system that is the most transparent in the world. Today, out stock markets compare with the best.”

It was all fireworks in the third session, thanks to the provocative topic: corruption and the role of the board. Pradip Shah, chairman of IndAsia Fund Advisors and a board veteran, started off by saying that boards are themselves not involved in corruption.

“However, what the boards have to deal with is, what’s best for the business, and that sometimes can be a tricky issue given the operating environment in India,” he said. Anil Singhvi, Chairman of  ICan Investments, pushed the envelope by broaching a controversial topic. “Some business houses in India have built a business model on corruption. It’s not speed money of the yore but now the policy framework is being changed, tinkered, or being dictated by the businesses. What are boards in such businesses doing?” he asked.Rahul Bhasin, managing partner, Baring Private Equity Partners, picked on the combative stance and questioned the independence of the independent directors, the guardians of minority shareholders. “Companies are run on the worldview of majority shareholders. To try and suggest that the board can act independent of promoters/majority shareholders, is inane. They are ‘dependent independents’,” he said. The professor on the panel then brought in some facts and figures to show that Indian boards were witnessing an exodus of independent directors. “There is a lack of incentives for board members. You pay peanuts and you get monkeys,” said Krishnamurthy Subramanian, professor of finance at ISB.

The panel, which included Lamon Rutten, managing partner & CEO of Multi Commodity Exchange of India (MCX), discussed the constraints of time and information that the independent directors have to deal with. It’s a fact that being an independent director can be a dangerous if the promoters or management are not clean. Panelists were of the view that independent directors were being given a raw deal and law must protect them. “Putting too much pressure on independent directors is the bureaucrat’s way of finding a scapegoat. Independents directors don’t run the company, they can only influence the decision-making in some ways,” added Pradip Shah. “Independent directors should be absolved of criminal liability that executive directors have to deal with,” added Rutten. The questions just kept coming and the panelists fielded them with elan until Union Corporate Affairs Minister Veerappa Moily came in and took charge of the proceedings.

(Economic Times)
IndiaCSR Whatsapp Channel
I AM PEACEKEEPER MOVEMENT
ADVERTISEMENT
India CSR Awards 2025
ADVERTISEMENT
FKCCI CSR & Sustainability Conference 2025
ADVERTISEMENT
National STEM Challenge 2025
ADVERTISEMENT
Tags: Corporate GovernanceCSR in India

India CSR offers strategic corporate outreach opportunities to amplify your brand’s CSR, Sustainability, and ESG success stories.

📩 Contact us at: biz@indiacsr.in

Let’s collaborate to amplify your brand’s impact in the CSR and ESG ecosystem.

India CSR

India CSR

India CSR is the largest media on CSR and sustainability offering diverse content across multisectoral issues on business responsibility. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting.

Related Posts

India’s Veteran journalist Vinod Dua passes away
More

India’s Veteran journalist Vinod Dua passes away

4 years ago
India CSR
More

Republic or Democratic?

5 years ago
Dr. H. Chaturvedi on Stem Education in India at STEM – CSR Roundtable
Corporate Social Responsibility

How can we conserve water amidst the Coronavirus crisis?

5 years ago
Dr. H. Chaturvedi on Stem Education in India at STEM – CSR Roundtable
Corporate Social Responsibility

Toyota Kirloskar Motor temporarily halts production at its Plant in Bidadi, Karnataka

5 years ago
Dr. H. Chaturvedi on Stem Education in India at STEM – CSR Roundtable
Corporate Social Responsibility

Govt. seeks public comments on Corporate Social Responsibility Policy (CSR) Amendment Rules, 2020

5 years ago
Dr. H. Chaturvedi on Stem Education in India at STEM – CSR Roundtable
Corporate Social Responsibility

Govt to amend CSR rules under companies law, invites public comments

5 years ago
Load More
I AM PEACEKEEPER
ADVERTISEMENT
India CSR Awards
ADVERTISEMENT
India CSR Awards
ADVERTISEMENT
National STEM Challenge
ADVERTISEMENT

LATEST NEWS

Harish & Bina Shah Foundation to Give ₹100 Crores to Advance Girls’ Education

Hindustan Zinc Partners with Epiroc to Advance Digital Safety Technologies in Mining

हिन्दुस्तान जिंक ने एपिरोक संग साझेदारी से माइनिंग सुरक्षा बढ़ाई

Chhattisgarh Demands Return of Wildlife from Ambani’s Vantara

RBI Absorbs ₹1,83,26,34,20,000 Liquidity Through Operations on August 27

How Cushion Covers Can Help Elevate Your Home Interior

TOP NEWS

Anand Mahindra Presents Coffee Table Book ‘May a Million Buds Bloom’

Why India Needs Smart, Sustainable, and Regionally Inclusive Parks

हिन्दुस्तान जिंक ने एपिरोक संग साझेदारी से माइनिंग सुरक्षा बढ़ाई

Empowering Rural Women: An Interview with Jayatri Dasgupta, CMO, PayNearby & Program Director, Digital Naari

RBI fines Kalaburagi & Yadgir DCC Bank ₹50,000 for KYC non-compliance

Mathematics Will Drive India’s Development: An Exclusive Interview with Prof. V. Kumar Murty

Load More
STEM Learning STEM Learning STEM Learning
ADVERTISEMENT

Advertisement

Image Slider
content writing services Guest Post Top 5 Reasons to have Sponsored Posts at India CSR – India’s Largest CSR Media R2V2 Technologies Private Limited

Interviews

Jayatri Dasgupta, CMO of PayNearby and Program Director of Digital Naari
Interviews

Empowering Rural Women: An Interview with Jayatri Dasgupta, CMO, PayNearby & Program Director, Digital Naari

by India CSR
August 27, 2025

Empowering Women at the Last Mile: A Conversation on Digital Naari’s Social Impact By Rusen Kumar NEW DELHI (India CSR): Jayatri...

Read moreDetails
Dr. Huzaifa Khorakiwala

Peace A Shared Responsibility: Dr. Huzaifa Khorakiwala

August 23, 2025
Dr. V. Kumar - Director of The Lodha Mathematical Sciences Institute (LMSI) Mumbai

Mathematics Will Drive India’s Development: An Exclusive Interview with Prof. V. Kumar Murty

August 22, 2025
Elevate 2025: Music, Movement, and Mentorship Shaping Tomorrow’s Leaders

Elevate 2025: Music, Movement, and Mentorship Shaping Tomorrow’s Leaders

August 14, 2025
Load More
ADVERTISEMENT
Facebook Twitter Youtube LinkedIn Instagram
India CSR Logo

India CSR is the largest tech-led platform for information on CSR and sustainability in India offering diverse content across multisectoral issues. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting. To enjoy the premium services, we invite you to partner with us.

Follow us on social media:


Dear Valued Reader

India CSR is a free media platform that provides up-to-date information on CSR, Sustainability, ESG, and SDGs. They need reader support to continue delivering honest news. Donations of any amount are appreciated.

Help save India CSR.

Donate Now

donate at indiacsr

  • About India CSR
  • Team
  • India CSR Awards 2025
  • Partnership
  • Guest Posts
  • Services
  • Content Writing Services
  • Business Information
  • Contact
  • Privacy Policy
  • Terms of Use
  • Donate

Copyright © 2025 - India CSR | All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
×
No Result
View All Result
  • Home
  • Corporate Social Responsibility
    • Art & Culture
    • CSR Leaders
    • Child Rights
    • Culture
    • Education
    • Gender Equality
    • Around the World
    • Skill Development
    • Safety
    • Covid-19
    • Safe Food For All
  • Sustainability
    • Sustainability Dialogues
    • Sustainability Knowledge Series
    • Plastics
    • Sustainable Development Goals
    • ESG
    • Circular Economy
    • BRSR
  • Corporate Governance
    • Diversity & Inclusion
  • Interviews
  • SDGs
    • No Poverty
    • Zero Hunger
    • Good Health & Well-Being
    • Quality Education
    • Gender Equality
    • Clean Water & Sanitation – SDG 6
    • Affordable & Clean Energy
    • Decent Work & Economic Growth
    • Industry, Innovation & Infrastructure
    • Reduced Inequalities
    • Sustainable Cities & Communities
    • Responsible Consumption & Production
    • Climate Action
    • Life Below Water
    • Life on Land
    • Peace, Justice & Strong Institutions
    • Partnerships for the Goals
  • Articles
  • Events
  • हिंदी
  • More
    • Business
    • Finance
    • Environment
    • Economy
    • Health
    • Around the World
    • Social Sector Leaders
    • Social Entrepreneurship
    • Trending News
      • Important Days
      • Great People
      • Product Review
      • International
      • Sports
      • Entertainment
    • Case Studies
    • Philanthropy
    • Biography
    • Technology
    • Lifestyle
    • Sports
    • Gaming
    • Knowledge
    • Home Improvement
    • Words Power
    • Chief Ministers

Copyright © 2025 - India CSR | All Rights Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.