15
India-Key Findings
oWhat
has been achieved in corporate governance?
nSignificant
legal and regulatory reforms
nImprovements
in the level of responsibility/accountability of insiders, fairness
in the treatment of minority shareholders and stakeholders, board
practices, and transparency
oKey
challenges in implementing corporate governance reform agenda
nStricter
enforcement by the regulators and stock exchanges
nImproved
delisting rules
nClarification
of responsibilities on the regulatory architecture
nCreation
of a credible director training institution
nActive
institutional investors
o Way forward
nCorporate
governance of banking institutions and state owned enterprises
nCorporate
governance of non-listed companies
nReforms
to deal effectively with director liability in case of conflict-of-interest
situation benefiting a controlling shareholder-director