M Damodaran former Chairman of SEBI sets up trust for non-executive directors [ Current Affairs ]
About M. Damodaran: Meleveetil Damodaran is a business executive and former government officer. Presently he is an Advisor and Chief Representative in India for the ING Group of Netherlands.
- He served as the Chairman of the Securities and Exchange Board of India (SEBI).
- India’s financial markets regulator, from February, 2005 to February, 2008.
- He launched a belief that aims to address challenges faced by non-executive especially independent directors on companies’ board directors.
- His idea behind Non-Executive Directors in Conversation (NEDICT) is to inspire discussions among non-executive directors and to give viable solution to the concerns faced by them.
The main issues faced by them are:
- Lack of role clarity
- Absence of domain knowledge
- Increasing liabilities under the new companies Act.
- Published on: July 29, 2015