Mentor’s comment-
- https://www.thehindu.com/
opinion/lead/a-red-pen-moment- for-corporate-governance/ article65071168.ece - In the intro, mention the recent NSE affair.
- In the body, mention issues with the selection process as it is done by the top management, next mention the issue of lack of penalties if the directors do not live up to their mandate. In the suggestions mention that top management must be allowed to chose not more than 50% of the independent directors, and the remaining must be chosen by other stakeholders, also mention the need to hold the directors accountable, lastly mention the need to hold the regulator accountable.
- Conclude by mentioning the need to implement these measures to improve corporate governance.
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Karun
Decent attempt, you have covered most points given in the article but you can try to increase scope of the answer.
Introduction is fine.
Structural issues are also fine, further you can add some points like conflict of interest(ICICI- Videocon example), separation of ownership and management, issue of executive compensation (need to stand the test of stakeholder’s scrutiny).
Suggestions mentioned are decent too, but you can mention Uday Kotak panel for corporate governance and write some of it’s recommendations (women directors, review by audit committee, evaluation and review of board’s performance, robust risk management etc)
Other points regarding choice of directors, accountability and periodic review are fine.
Conclusion is good.
Keep practicing. 🙂
4.5/10
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Likhitha
Nice attempt.
Introduction is fine.
Issues mentioned are good, you can also talk about conflict of interest(example of ICICI-Videocon deal), weak board not performing in the interest of shareholders (IL&FS), issue of executive compensation (need to stand the test of stakeholder’s scrutiny).
Suggestions too can be supplemented with recommendations of Uday Kotak panel on corporate governance.
Conclusion is fine.
Keep practicing. 🙂
4.5/10