Two reports published over the last few weeks warrant close reading and carry important lessons: Ease of Doing Business and Asia CG Watch. ‘Ease of Doing Business’ is a quantitative measures of business regulations across ‘11 regulatory areas that are central to how the private sector functions.’ Since it puts a quantitative number on regulations and outcomes – example, how many days does it take to get permits to start a business, it provides policy makers a clear target. As

The ongoing tussle between Tata Sons and Cyrus Mistry is spilling over to the boardrooms of the listed companies in the group. Soon after the independent directors of Tata Chemicals, which includes Nusli Wadia, issued a unanimous statement backing Cyrus Mistry, Tata Sons moved resolutions to unseat Nusli Wadia from the boards of Tata Chemicals, Tata Steel and Tata Motors. Nusli Wadia, current Chairperson of the Wadia Group, is an old Tata associate. He has served as an indepe

IiAS believes the current back-and-forth between Tata Sons and Cyrus Mistry, with Independent Directors of listed companies in the fray, is reactionary – and unlikely to provide a long-term solution. The Tata Group needs to focus on making its complicated holding and governance structure work. IiAS believes the current combative conversation between Tata Sons and Cyrus Mistry is a distraction from the core issue. While both Cyrus Mistry and Tata Sons have their positions, the

Cyrus Mistry’s position as Chairperson of listed companies of the Tata group is now being questioned. Whatever be Tata Sons’ opinion in this matter, IiAS believes independent directors of the listed companies must provide comprehensive guidance to shareholders on whether Cyrus Mistry should remain Chairperson. And, if boards of listed Tata group companies are divided in their of support Cyrus Mistry, there is a risk of boards becoming dysfunctional which has operational impli