Government Panel recommends review of disciplinary rules on directors, auditors
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New Delhi, Nov. 18 -- A government panel that examined ways of improving the ease of doing business in the country has recommended that there is a case for reviewing the rules on disqualifying directors and debarring auditors.
The panel led by Injeti Srinivas, secretary in the corporate affairs ministry, which presented its report to corporate affairs and finance minister Nirmala Sitharaman on Monday also suggested that penalty for 46 company law breaches should be toned down. It also recommended that penalties could be reduced for startups, small, one person and producer companies, said an official statement from the ministry. Parity on remuneration of executive and non-executive directors is also recommended.
The panel suggested that ...
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