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Mumbai: ‘Operations risk’ has emerged as one of the key concerns for India’s bluechip companies as the outbreak of Covid-19 pandemic has disrupted the client and supply chains across the globe. According to a survey conducted by Excellence Enablers – a corporate governance firm founded by former Securities and Exchange Board of India(Sebi) chairman M Damodaran – 46 out of the Nifty Fifty companies have reported Operations risk as a key concern in their FY20 annual reports. In FY19, only 29 companies viewed operations as a risk area. Operations include everything from procuring the raw materials to selling the end products. For the services industry it includes the cycle of getting business to executing the task. While the risk may be on account of disruptions due to the pandemic and lockdowns, companies have been conservative when it comes to terming Covid-19 itself as a risk. ....
Read more about Only 28 Nifty 50 companies saw Covid-19 pandemic as a risk, shows data on Business Standard. The study of corporate governance by Excellence Enablers also found that while most companies complied with the requirement of minimum directors, several had more than 14 directors ....
Age diversity in boards only theoretical, rues ex-SEBI chief March 09, 2021 Former SEBI chairman M Damodaran× In 2019-20, no firm identified any missing competence at directors’ level, finds a study by Damodaran-founded think-tank Are the boards of India’s top 50 listed companies lacking in young minds as independent directors? According to a corporate governance study by Excellence Enablers, a corporate governance think-tank founded by former SEBI chairman M Damodaran, just about 5 per cent or 14 of the 279 independent directors on the boards of top 50 listed companies that constitute Nifty index are under 50. And, many of them are set to cross 50 very soon, the study shows. ....
Mutual fund trustees haven’t done a good job and can get more out of the asset management companies (AMC), said M Damodaran former chairman of Sebi and chairman of Excellence Enablers, a corporate governance advisory firm. “Every mistake that catches the attention of the regulator is a mistake that has gone past the trustees, who didn’t notice it or noticed but did not do anything about it. Trustees are the custodians of the investors’trust. They are conscience keepers of the industry,” said Damodaran at the CII Mutual Fund Summit on Friday. He said peaceful coexistence between AMC and the trustee is not the answer and “there must be tough conversations.” ....