ICSI calls for stronger Board Oversight and Governance following the Indigo incident
Rongili Barta: In view of the recent governance lapse highlighted by the Indigo incident, the Institute of Company Secretaries of India (ICSI) has called for an urgent need for strengthened corporate governance practices across India Inc., following the Government’s strong sentiment on the recent IndiGo incident.
Underscoring the need for a deeper accountability at the Board Level, the ICSI reiterated that besides being fundamental to compliance, robust governance ensures preparedness, accountability, and crisis responsiveness.
Reiterating the vital role of independent boards, effective risk management and vigilant stakeholder oversight, the ICSI urged Companies to align their board processes in the interest of all stakeholders and enable proactive risk identification, timely intervention and transparent communication.
Reaffirming the vital role of Company Secretaries in enabling ethical, accountable and sustainable corporate conduct, CS Dhananjay Shukla, President, the ICSI, said, “the incident serves as a reminder for Corporates and Professionals to ensure sound governance frameworks that can create as well as preserve shareholder value along with public trust”.
Stressing upon the ICSI’s commitment to advancing best practices in promoting good governance, CS Asish Mohan, Secretary, the ICSI, stated that, “Corporates should revisit their structures and processes in the interest of stakeholder protection and long-term sustainability, because Corporate Governance is a continuous responsibility”.