The evaluation was made mandatory by the Companies Act 2013 for good corporate goverance.
Apart from this, 52 per cent have not disclosed their risk mitigation plans in their annual reports and 62 per cent did not disclose if they had formed a committee for compliance management.
Mumbai: Over 60 per cent of annual reports filed by companies did not disclose the manner in which they had conducted the annual evaluation of its Board, a study by Deloitte Touche Tohmatsu India LLP said.
The evaluation was made mandatory by the Companies Act 2013 for good corporate goverance. Apart from this, 52 per cent have not disclosed their risk mitigation plans in their annual reports and 62 per cent did not disclose if they had formed a committee for compliance management.
Abhay Gupte, partner, Deloitte, observed that perhaps because it is still new the sample companies have approached the disclosures more as a compliance exercise.
( Source : Deccan Chronicle. )
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