Governance metrics improved significantly for corporate India in FY22

Corporate India has seen notable advancements in governance-related metrics. According to a survey of the top 100 nifty firms, 99 of the top 100 companies complied with governance standards for the nomination of independent directors in FY22.A good trend in compliance was found across a number of governance variables, according to a survey done by Excellence Enablers, a governance organisation founded by former SEBI chairman M Damodaran

According to the data, 66 companies split the roles of the chairperson and managing directors in FY22, and the majority of these businesses conducted more board meetings than was required by law.

In 2019, 4 companies had less than 33% independent directors on their board, while in 73 companies at least 50% of board members were independent directors. The latest data revealed further improvement. In FY22, only one company had less than 33% independent directors, while 77 companies had at least half of their board as independent directors out of which 43 companies had independent directors forming a majority.