Cyril Amarchand Mangaldas has established a corporate governance centre (CGC) and appointed the former chairman of the Securities and Exchange Board of India (SEBI), UK Sinha, to lead it in the capacity of a senior adviser.
The CGC will provide board advisory services, assist companies in setting up internal governance procedures and controls, train board members and senior management, and represent in shareholder/activist engagements.
The CGC will build a team that will include several subject matter experts to provide comprehensive, holistic and effective governance advice to clients. As a think-tank it will undertake research on complex issues pertaining to governance.
“We believe that this has the potential to be an independent practice like in Western markets,” said Cyril Shroff, the managing partner at CAM. “We see governance-related conversations becoming more frequent and urgent across Indian corporates, stakeholders and regulators.”
Sinha has served as joint secretary in the Ministry of Finance, where he looked after the ministry’s banking and capital markets divisions. He was appointed SEBI chairman for an initial period of three years, followed by two extensions, leading to a term of more than six years until February 2017.
“Evolution of the regulatory regime concerning corporate governance was a very important aspect of my tenure at SEBI,” said Sinha.
“This is a topic that I have significant interest in and I am glad to be getting another meaningful opportunity to contribute to its development.”