Grant Thornton supports the passing of India's Companies Bill which was passed by the Indian Parliament on 8 August. The Bill will bring greater transparency and protection to investors.
"We applaud the Indian Parliament on the Companies Bill, which will replace the nearly 50-year-old Companies Act,” said Grant Thornton global CEO Ed Nusbaum. “Requiring that one-third of boards consist of independent directors and that at least one be a woman, along with more frequent mandatory rotation of auditors, will mean greater transparency and protection for investors."
"We encourage other countries to review their corporate oversight systems to ensure that there are high levels of transparency and investor protection."
You can read more about our thoughts from Vishesh C Chandiok, national managing partner and David Jones, partner and practice leader from our offices in India.