GovEVA’sShailesh Haribhakti recently attended a SEBI OECD Asian Roundtable on Corporate Governance. Here, he walked the group through how the Bluestar organization adopted and is fully compliant with the recommendations of the Kotak Committee
In addition, he also shared the following thoughts:
- The Evolving Companies Act and SEBI’s LODR have created the space for technology-enabled governance platforms like GOvEVA. Using AI/ML and a vigil mechanism, board processes have been data enriched. Collaboration, deep engagement, continuous feedback, and meaningful evaluation of the board and executives have all become a part of the Best Board Practices
- The very democratised voting mechanisms have led to far more sophisticated investor relationship processes and the role of the stakeholder relations committee has been greatly enhanced. A suggestion to enable institutional investors to have access to the chairperson of the committee was welcomed
- The data and process enabled vigil mechanisms also creates room for compliance, legal and tax process optimisation portals. This leaves a lot of room for risk-taking and opportunity exploitation
- Integrated Reporting, Sustainability Transparency, and ESG Compliance have gained widespread currency thanks to SEBI’s voluntary approach to encouraging large listed companies to share their progress in creating a better future
- Big data led surveillance and data sharing to enhance oversight were recommended. So also a red-flagging of the entire population of listed entities
- Online reputation management and the use of whistleblower mechanisms to enhance a culture of responsibility were new thoughts that were highly appreciated