Q.3 Corporate governance in India suffers from several structural issues. In the context of this, examine the issues with the selections process of the board members and suggest the way forward. (10 Marks)

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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