A new website www.primedirectors.com to help the listed companies find Independent Directors was launched on 14 September, 2005 by Shri M.Damodaran, Chairman, Securities & Exchange Board of India. This website, a corporate governance initiative, has been conceived and developed and is owned by PRIME Database, India’s premier database on the primary capital market. The Main Sponsors of this website are NSE and BSE, the two leading stock exchanges where most of the companies are listed while CII, the premier industry association is the Institutional Partner.
For better corporate governance, the need for Independent Directors is now recognized the world over. Independent Directors in India too now have substantive role and responsibilities, as envisaged both by SEBI and MCA; simultaneously, the Companies Act now allows a reasonably good remuneration to the Independent Directors.
See full Press Release.
Sept 14, 2005
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