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Technology and ESG

Technology and ESG are undoubtedly intertwined, with technology serving as a catalyst for positive change in environmental, social, and governance practices. For more on ESG and Sustainability Reporting visit us at www.excellenceenablers.com

# ESG #CSR #Sustainability Reporting #ESG Advisory #ESG in India #ESG and Technology

Be prepared” is an excellent motto. Walk into the boardroom with confidence. Visit https://lnkd.in/dMznTvhz or write to us at [email protected]

#ExcellenceEnablers#corporategovernance#mockboardroomsessions#practicesessions#newdirectors#independentdirectors#directors

Corporate Governance in startups

Excellence Enablers offers corporate governance consultancy for startups in India. Startups looking to strengthen their corporate governance structure can contact us or visit www.excellenceenablers.com.

#Corporate Governance in Startups #Startup consultancy in India #Governance structure in startups #Indian startups

Customized Training Programes

Role clarity and recognition of responsibilities must co-exist. Contact us for customised training programmes For more details visit www.excellenceenablers.com today!

#Training programme #Customised Training programmes #Training for Directors #Training for New Directors #Board training in India

Board Evaluation

Excellence Enablers helps you Build Better Boards. Get your board evaluated. Contact us for our Board Evaluation Services. For more information visit our website www.excellenceenablers.com

# Board Evaluation Services #Board Evaluation Services in India #Board assessment #Board Evaluation firms in India

Board Consultancy Services

Adding value at the apex level. Contact us for Board consultancy services in India. We provide customised solutions to your problems.

For more visit www.excellenceenablers.com

#Board Consultancy Services #Board effectiveness consultancy #Board consultancy in India

Corporate Governance Consultants

We at Excellence Enablers, provide Board evaluation Services, Board consultancy services, Training programme for Directors and much more. For more visit www.excellenceenablers.com

#Corporate Governance Consultants #Board Consultancy #Consultancy firms #Corporate Governance Consultancy firms in India

Going Going Gone

Joint Auditors of a large opined that due to a huge fourth -quarter loss of over INR 1,000 crores the “appropriateness of assumption of going concerned” for the Company depended on its ability to raise necessary funds, among other factors. Notes in the financial statements stated that the Company had incurred a loss during the year and had negative net worth as at the close of FY that may create uncertainties. To read more visit https://excellenceenablers.com/going-going-gone/

#CorporateGovernance

#CaseStudy

#Auditors

When Leaving Made Sense

Two Directors (one Independent Director (ID) and one Non-ID) resigned from the Board of a media company on November 22, 2019, citing several instances of poor Corporate Governance in FY 18-19. There were some concerns that were raised by them. The board decided to conduct a special audit by EY for all the transaction and subsidies. To Read More visit https://excellenceenablers.com/when-leaving-made-sense/

#Directors

#IndependentDirector

#Non-IndependentDirector

#CaseStudy

Claims and the blame Game

n January, 2020, Chairperson of Audit Committee of a private sector bank resigned from the Board citing serious concerns regarding deteriorating standards of the Corporate Governance, failure relating to compliance, improper management practices. the Bank was management-driven, and not Board-driven. RBI refused to grant a new term to the managing director of the company. After some months director resigned. To read more visithttps://excellenceenablers.com/claims-and-the-blame-game/

#CorporateGovernance

#AuditCommittee

#CaseStudy

Resign, Rather Than Sign

In May, 2018, Deloitte Haskins & Sells, Statutory Auditors of a listed entity, resigned owing to lack of information provided to them by the Company. On the same day, the Company appointed M/s Mehra Goel & Co. as Statutory Auditors. Deloitte was auditing their books of accounts for approx. 8 years, and had never expressed any concerns on the financial performance, and no information which they sought had been denied to them. To read more visithttps://excellenceenablers.com/resign-rather-than-sign/

#BadCorporateGovernance

#Auditiors

#CaseStudy

Exit, Smokescreen and Reality

On October 8, 2020, one of the big 4 audit firms resigned as Auditors of a material subsidiary of a large listed Indian Company. The Indian sub-licensee of the big 4 firm is the Auditor of the parent Company. On October 14, 2020, the material subsidiary informed the parent Company about the Auditor’s resignation. On October 15, 2020 late evening, the parent Company informed the Stock Exchanges about the same, but did not disclose any details. On October 16, 2020, the shares of the Company fell by almost 10%. Company sent a clarification to the stock exchange for the letter of resignation of auditor. To Read More visit https://excellenceenablers.com/exit-smokescreens-and-reality/

#CorporateGovernance

#Auditors

#CaseStudy

#StockExchange

Prevention is better than cure

There were some media reports of a whistleblower having alleged that promoters of a large company had siphoned off money. He also said that CEO has siphoned the money along with his family member. He also raises the concerns for the remuneration to the employees as well. But the company clarified there was no such whistleblower. They also said that this news was of an old whistleblower. To Read Visit https://excellenceenablers.com/prevention-is-better-than-cure/

#WhistleBlower

#CaseStudy

#BoardofDirector

#CorporateGovernance

Grounded after take off

In July 2020, an FIR was filled by CBI against some of the companies. Its chairman and the managing director, Vice President and 9 private companies for forgery, cheating and causing loss to the company of INR 805 crores. The CMD was the Chair of this subsidiary, and the VC was its Managing Director. As per the agreement signed between the material subsidiary and the PSE in 2006, the subsidiary was to run the airport, and share 38.7% of the revenue with the PSE as annual fees. The remaining amount was to be used for the modernisation, operation and maintenance of the airport. To Read Visit https://excellenceenablers.com/grounded-after-take-off/

#CorporateGovernance

#CaseStudy

#Forgery

#ShippingofFunds

Fair And True

Financial statements of a Company in the telecom industry, showed that it had been following an accounting system which was different from the standard followed by most of the companies in the same industry.

In February, 2017, the Company announced that its paid services will be provided from April, 2017. The Company offered three months of free services in a four-month package. Some analysts also pointed to the irregularity in sales. After some time, it was noticed that company was not following the rules and standards. But at the last, as per auditor’s report, the company followed the norms. To read visit.https://excellenceenablers.com/

#AccountingPolicies

#AccountingTreatment

#Corporate Governance

#CaseStudies

Taking shareholder for granted

One of India’s largest companies sought shareholder approval in July, 2014 for payment of compensation, in excess of the limits prescribed by law, to two serving Whole-time Directors (WTDs) and the legal heir of the former MD (since he had passed away). Proposal was for the compensation to be paid that year. Law Mandates shareholder approval. Nearly 30% of the votes were cast against the resolution. To Read https://excellenceenablers.com/taking-shareholders-for-granted/

#Shareholder

#CorporateGovernance

#BoardEffectivness

#CaseStudies

Banking on Relationship

Spouse of md & CEO of a large commercial bank had a business dealing with an industrial group. Industrial group had a borrowing relationship with the Bank. allegations of conflict of interest and corruption were levelled, following a whistleblower complaint, the Bank took the position that a similar complaint, which had come in October, 2016, had been looked into, and nothing adverse was established. To read https://excellenceenablers.com/banking-on-relationships/

#CaseStudies

#Partenrship

#Investor

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