The Companies Act, 2013 which replaces more than half century old Act and envisages a slew of changes to rules governing the functioning as well as an excellent financial sector reform paving for corporate law that is world class and carries high standard of governance, transparency, reporting and compliance.
While on one hand it confers greater role in the governance of any Independent director, it create great demand of the qualified Independent Directors. The role of independent directors as per the new provisions is unlikely to remain passive players or mute spectators in the board room. There will be huge demand for capable, qualified independent directors to give right direction in managing the affairs of the company.
Maximum number of Directorship increased from 15 to 20 which include alternate directorship and directorship in private companies. Maximum number of public companies in which a person can hold directorship limited to 10 including private companies, which are holding or subsidiary companies of public company. Certain class of companies to have at least one Women Director. The scope of eligibility of becoming an Independent Director also extends to Non Resident Indians.
Thus, India needs around 40,000 Independent Directors in near future. This will enforce better corporate governance, transparency & accountability and inclusive growth through compulsory 2% CSR spending on net profit.Building an effective board of competent directors, who are alert to what is happening in the business environment and have the personal qualities to question, handle uncertainty and sustainability is one of the hardest challenges in business.
Realizing the importance and ardent need for the independent directors in the corporate world, IOD’s Masterclass for Directors, a 3 day condensed weekend Certification training programme, for Certified Corporate Directorship acts as a platform to provide a whole vista of opportunities, especially for those who wish to join the pool of Non Executive Independent Directors. This course comes alive through participation, discussion through case studies and Boardroom simulation exercise.
The government’s idea is an eventually introduce the requirement through administrative orders when it is confident that unlisted public companies too could graduate to higher governance requirements. The company law, defines independent directors differently from the way it has been defined by capital market regulator SEBI in the listing agreement that companies seeking to go public sign with stock exchanges.
Few businesses realize that the Cambrian explosion of stakeholder’s aspiration has profoundly altered the market landscape. Unless directors understand the enormity of changes and learn strategies to deal with them, they will be misfits.
As such, it envisages the followings :
- Shape professionalism in Directorship based on “International Best Practices”
- Enhance the ability and the effectiveness of company directorship and develop Good Corporate Governance towards International standards.
- Improve Competence in integrating effective corporate performance, business strategy and Directorship.
- Create Competence in creating corporate competitiveness in National and international Business.
- Build Competence in Good Corporate Governance (GCG) implementation towards controlled business managerial (low cost of money) and bring corporate into sustainable growth.
- Develop Professional approach to fetch benefits during global financial crisis.
- Three day program, followed by a submission of a dissertation, will lead to the award of “Certified Corporate Director’.
- One year Complimentary membership of Institute of Directors.
- Complimentary empanelment in the ONEID's (Organisation for Non-Exec Independent Directors) Panel for Independent Directors, subject to Committee's Approval.
Who would benefit ?
The Director development programme is designed for Directors, senior executives and owner-managers, whatever their current status:-
- Directors wanting to develop their knowledge and skills before joining the board.
- Newly appointed Directors wishing to establish their role and responsibilities on the board.
- Experienced directors wanting to bring best practices to their companies and gain up-to-the-minute knowledge, on a range of business and legal issue.
|1||Lt Gen Jaswant Singh Ahluwalia PVSM(Retd.) President, Institute of Directors||7||Mr. Rangan Mohan,
former President & CEO of IT division of Hinduja TMT Ltd, Bangalore
|2||Lt Gen Surinder Nath, PVSM, AVSM (Retd.) IND. Director, L&T, former Chairman UPSC||8||Mr Srinivasa Murthy
Past Chairman ICSI
|3||Mr. Ashish Makhija
Corporate Strategist Consultant & Lawyer Partner AMC Law Firm
|9||Mr Vivek Agarwal
CFE, Executive Director, ERNST & Young Private Ltd.
|4||Mr J. Sundharesan
Compliance Guru, Practicing Company Secretary
|10||Prof. (DR.) Bala Krishnamoorthy
Professor & Area Chairman Business, Environment & Strategy, NMIMS
founder Chairman of CeNext Consulting & Investment Pvt Ltd
|11||Dr. Satyanarayana Dash, IAS
former Secretary Ministry of Heavy Industry, Director of Bharat Electronics Ltd
|6||Dr. Arun Kumar Rath, IAS
former Secretary Ministry of HRD & Independent Director COAL India
|12||Prof Colin Coulson-Thomas
University of Greenwich, UK
|Detailed Profile Attached|
To give a practical exposure, each participant is required to prepare a project study in the form of dissertation on completion of the course. The project topic can be chosen on any of the subjects covered in the programme. It provides opportunity to demonstrate independence, originality and to implement into practice the knowledge gained through the course.
‘Certified Corporate Director’ certification from IOD will provide recognition of your personnel and professional achievement in attaining and maintaining the requisite standards of knowledge, experience and probity.
On successful completion of the course and submission of dissertation project, the award of Certified Corporate Director will be issued.
- 25 hours: pre course reading and preparation
- 25 hours: attendance
- 50 hours: dissertation / assessment tasks
The program consists of selected modules encompassing current subjects that the directors need to know, to lead a world-class organization in the 21st Century.
Ethical Decision Making Tool
While a Code of Professional Conduct can provide the general rules, it cannot cover every situation. Ethics sometimes comes down to a personal decision. Use this framework to help you:
- Recognise and ethical issue
- Get the facts
- Evaluate alternative actions from various ethical perspectives – think critically
- Make a decision and test it
- Act and then reflect on the decision later.
And use this Quick Test when making a final decision to act:
- Is it legal?
- What does your Code of Professional Conduct/policies say?
- What would my ethical role model do?
- How would it look on the front page of tomorrow’s newspaper?
- How does it make me feel?
- Would I be comfortable sharing my decision with my closest family?
- Does it pass the Golden Rule test, “Do to others as you would wish them to do to you?”
Course fee: The registration fee for the 3 day Non Residential 'Masterclass for Directors' program is Rs. 37,500/- plus 12.36% Service Tax, and it entitles to the followings:
- Course slides used during the three days in a pen drive, at the end of three days program.
- One year Complimentary membership of IOD .
- Complimentary empanelment in the ONEID's (Organisation for Non-Exec Independent Directors) Panel for Independent Directors, subject to Committee's Approval. Award of 'Certified Corporate Director' on successful completion of the course.
All Fees are inclusive of Course materials plus light refreshments and buffet lunch on all 3 days.
Discount on Registration Fee
- 5% for all IOD members
- 10% for booking and payment one month in advance
- Another 10% for participation of three or more from the same organization
Disclaimer : Course descriptions, including fees, are given in good faith. However, IOD reserves the right to change course content, faculty, locations and fees, or cancel a course, for whatever reason. Paid participants will be entitled to attend the next course at any convenient location where the course is being conducted, within a year from the registration date.
No refund will be made for cancellation. Should you be unable to attend the programme after booking, you are welcome to send a representative