In today’s briefing:
- Not Small Change: The Theft from SBI’s Coin Depot Should Set Alarm Bells Ringing
- Should Move to a Legally Binding Structure to Prevent Corporate Governance from Becoming a Skeleton
Not Small Change: The Theft from SBI’s Coin Depot Should Set Alarm Bells Ringing
- Theft from SBI’s high security coin depot of Rs 110mn by insiders
- Contents of coin deposts like currency chests are the property of the central bank
- Theft reveals lax security protocols at SBI which raises concerns of operational risk management
Should Move to a Legally Binding Structure to Prevent Corporate Governance from Becoming a Skeleton
- Cases of illegal transactions by the president of a company from the founding family should be handled in terms of legal violations before corporate governance.
- If we focus on the issue of corporate governance, the problem is that the board of directors and statutory auditors have failed to fulfill their duties and cross-shareholdings were involved.
- If corporate governance is not effective in practice, we should at least expect to see improvements in corporate governance practices in organizational forms that are more legally binding.
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