At the Asian Corporate Governance Association annual meet in mid-November, in an audience poll, there was near unanimity that boards have not come to grips with ESG (Environment, Societal and Governance) and why it matters. At the Asian Corporate Governance Association annual meet in mid-November, in an audience poll, there was near unanimity that boards have not come to grips with ESG (Environment, Societal and Governance) and why it matters. While this can be in-part be exp

The government has superseded the board of Infrastructure Leasing and Finance Company Limited (IL&FS). What should the board now do, to help put the company back on track. Given the size of the of the problem, IL&FS is the largest bankruptcy facing the Indian financial system. For the government to stand aside and let events take their own course was never going to be an option. Their intervention is welcome, in large part for the signal this sends. Appointing a new board is

This article is the fourth of a series on ‘Board Failures’ that appeared in Bloomberg Quint. Being an independent director on a board is a challenge. Doubly so in India. From names on the masthead aimed at attracting capital, to councillors to families and managements, the role of independent directors has changed, as the law has steadily burdened them with more responsibilities. Just as independent director narrowed down their role to being arbitrators between the controllin