Good governance practices will enliven M&A culture

By Shardul Thacker, Mulla & Mulla & Craigie Blunt & Caroe
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Astringent regulatory approach requires a framework of strong financial disclosure norms, aimed at ensuring transparency and accountability. Such an approach promotes self-governance by enabling participants in the system to discharge their rights and duties efficaciously, and makes a third-party monitoring mechanism more effective.

The object of corporate governance (CG) norms is to protect the interests of stakeholders by making companies accountable to them. This is achieved by vesting the stakeholders with rights as against the company and statutorily imposing duties on it.

Shardul Thacker Partner Mulla & Mulla & Craigie Blunt & Caroe
Shardul Thacker
Partner
Mulla & Mulla & Craigie Blunt & Caroe

Clause 49 of the listing agreement with stock exchanges deals with CG issues – the composition of boards of directors and audit committees, qualifications of members of these groups, and financial disclosures by listed companies. It also recommends the formulation of an internal code of conduct.

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Shardul Thacker is a partner at Mulla & Mulla & Craigie Blunt & Caroe in Mumbai.

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Tel: +91 22 2262 3191 / +91 22 6634 5496

Fax: +91 22 6634 5497

Email: shardul.thacker@mullaandmulla.com

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