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INTERNATIONAL CONFERENCE
The
Cen
”Corporate Governance: A Paradigm Shift” 10th - 11th April, 2015
tre
for Corporate Governance, Maharaja Agrasen Institute of Management Studies (MAIMS), Rohini, Delhi, organized the second
international conference on “Corporate Governance: A Paradigm Shift” on 10th -11th April, 2015. The conference was sponsored by IMS,
Nijhawan Group of Companies, Coca-Cola, PFC and Union Bank of India. The Channel Partner was -Live India; and Knowledge Partner
was - ICSI.
Day 1 : 10th April, 2015
Inaugural Session
The inaugural session was graced by the following dignitaries:
 Chief Guest: Mr. Pravin Kumar Purwar, CMD and Director Finance, MTNL
 Presided by: H.E. Felix Ngoma, Ambassador, Embassy of the Republic of Congo to India
 Guests of Honor(s): Mr. Witness Ngwenya, Embassy of Republic of Zimbabwe; Mr. Jamel Boujdaria, Embassy of Republic of
Tunisia; and Mr. Emile Mwepesi, Rwanda High Commission
 Special Invitee: Mr. Ashish Jain, Director, Federation of Indian Export Organisation, New Delhi
 Key Note Speaker: Prof. J.P Sharma, Head, Department of Commerce, University of Delhi, Delhi
 Chairman: Dr. Nand Kishore Garg, Founder Chairman, Maharaja Agrasen Technical Education Society (MATES)
 Director : Dr. C.S. Sharma, Maharaja Agrasen Institute of Management Studies
The inaugural session commenced with lighting of the lamp and recitation of Saraswati Vandana. Thereafter floral bouquets were
presented to all the dignitaries by the faculty members of MAIMS.
Dr. C. S. Sharma, Director, MAIMS welcomed all the dignitaries on the stage, delegates, faculty members and students. He said that it is
the agency problem which creates deflection from good corporate governance and hence scams. It is the laws which help us in resolving
dilemma. All entities need to pursue good governance along with good ethics.
Next speaker Mr. Emile Mwepesi, Second Councillor, Rwanda High Commission shared his experiences on corporate governance. He
said that his country also follows good governance practices. After the elections, both winners and losers participate in running the
government in proportion of the votes won by them. Good governance requires checks & balances and audits.
Thereafter, Mr. Jamel Boujdaria, Deputy High Commissioner, Embassy of Republic of Tunisia, said that Tunisia has adopted corporate
governance guidelines & manuals with following objectives: a. Encourage & enable good governance; b. Adopt most advanced
governance practices; & c. Impart training to ensure pursuit of best practices.
Next in line, Mr. Witness Ngwenya, First Commissioner, Embassy of Republic of Zimbabwe, shared his experiences on his country
Zimbabwe. He said that good corporate governance ensures more interaction among different stakeholders and thus facilitates more
cooperation.
Subsequently, Chief Guest, Mr. Pravin Kumar Purwar, CMD and Director Finance, MTNL highlighted the need for good corporate
governance. He said that organizations are becoming bigger with every passing day and lots of stakeholders are impacted by the
functioning of an organization. Organizations need ethical leadership so as to protect interest of all stakeholders.
Thereafter, Key Note Speaker Prof. J.P Sharma, Head, Department of Commerce, University of Delhi, presented the case study of Satyam.
He said that role of watchdogs like SEBI and the auditors was questionable in the case of Satyam. All watchdogs as well as board of
directors need to work in an ethical manner in the best interest of all stakeholders.
Subsequently Dr. Nand Kishore Garg, Chairman, Maharaja Agrasen Technical Education Society (MATES) opined that almost nil or
negligible action was taken by watchdogs in most of corporate scams and frauds. There is need to imbibe deep ethics amongst us
including watchdogs, otherwise all laws will fail.
Thereafter, Special Invitee Mr. Ashish Jain, Director, Federation of Indian Export Organisation, New Delhi, said that Corporate
Governance exists merely on piece of paper. It has not percolated down to implementation. It has to be started from self regulation. It has
to be started from childhood itself.
Thereafter all the dignitaries including Dr. Nand Kishore Garg, Chairman, MATES, Dr. C. S. Sharma, Director, MAIMS, the Conference
Conveners Dr. Urvashi Sharma and Dr. Vinita Gupta released the book on conference proceedings titled “Corporate Governance: A
Paradigm Shift”, which comprised research papers & articles authored by eminent academicians, researchers and corporate professionals
from India & abroad. The prominent international contributions included the following:
Author’s Name
Organizational Details
Paper Title
Mr. Jose G. Vargas - Hernandez
&
Ms. M.C. Julieta Elizabeth Salazar
Echeagaray
Ms. Leena Jenefa,
Ms. Fatimah Sakeenah Anuar &
Dr. Mohan Kumar
* University Center for Economic and Managerial
Sciences, Zapopan, Jalisco, México
** University of Guadalajara
A Proposed Organizational Systematic
Model to Raise productivity in a Cooperative
Society of Fish Production
*Lecturer, Linton University College, Malaysia
**Lecturer, Linton University College, Malaysia
***Director, Sri Krishna Engineering College,
Chennai
*Deputy Dean, Lecturer, Linton University College,
Malaysia
**Lecturer, Linton University College, Malaysia
***Lecturer, Linton University College, Malaysia
Corporate Governance And Its Effectiveness
Mr. Lee Har San,
Nair Radha &
Ms. Leena Janefa
Corporate Governance And Responsibility
Lastly Mr. Ankush Nijhawan, MD, Nijhawan Group of Companies, Delhi and Ms. Lalita Nijhawan, Director, Nijhawan Group of
Companies shared their experiences on Corporate Governance in the Family Controlled Businesses. They said that their group of
companies follow internal governance procedures so as to ensure best governance practices. Thereafter the inaugural session ended with
presentation of mementos to all the dignitaries.
Day1, Plenary Session I : Corporate Governance and Transparency
The first session comprised a panel of renowned personalities like Mr. Satish K. Singh, Group Editor in Chief, Live India Channel, Delhi,
S. Neeraj Chawla, Chairman, NIRC-ICSI and Mr. Varun Soni, CSR Manager, ‘Make a Difference’ (NGO).
After a floral welcome by the faculty members, the first speaker S. Neeraj Chawla, Chairman, NIRC-ICSI discussed about the paradigm
shift in Corporate Governance, necessitating movement from boardroom to market place. He said that the lots of responsibilities have
been placed on the board for good governance under the Companies Act 2013. The law has made it mandatory to appoint at least one
woman director on the board. He told that earlier the responsibility was of SEBI to prove companies’ default but now onus to prove
compliance has shifted to company board itself. He emphasized that to become a winning company, it needs to build an effective board of
competent and independent directors.
The next speaker Mr. Satish K. Singh, Group Editor in Chief, Live India Channel, shared his views on the impact of media on corporate
governance. He described the media as a ‘watchdog’ i.e. media watches the corporate world and gives its views & opinions to the public
who may be directly or indirectly employed in the company. A country needs effective media to keep the corporate accountable to the
stakeholders. To sum up, he added media builds up its credibility by retaining, authenticating, diffusing business information on corporate
ins and outs. Corporate governance appears to be just in theory and not followed in practice. If RTI is applicable to public sector &
government organizations, then why not private companies also adopt RTI rules? If there is CIC, CVI for public sector & government
organizations, then why not private companies also pursue same mechanism? It is the media activism that has revealed a lot of scandals,
corruptions. Onus is now upon companies to pursue & implement good corporate governance practices.
Last speaker, Mr. Varun Soni, CSR Manager, ‘Make a Difference’ (NGO) highlighted the need for good corporate governance and social
development initiatives. He highlighted that his organization is teaching English to poor kids in 23 cities. After the enactment of the
Companies Act, 2013, fund flows from corporates to his organization have increased; and this has enabled his organization to serve more
kids. All should come forward to support and pursue social and financial inclusion initiatives to reach out to down trodden in the society.
The session ended with the presentation of mementos to the speakers by the faculty members.
Day1, Plenary Session II : CSR and Environmental Ethics: Need of the hour
The second session had a panel of renowned personalities like Ms. Bharti Taneja, Founder, Director at Alps International Academy, Ms.
Ishika Taneja, Executive Director, Alps Beauty Clinic, Prof. (Dr.) R. K. Mittal, Former Dean, University School of Management
Studies, Advocate Aishwarya Bhati, Secretary, SCBA, Supreme Court and Mr. Rahul Chandra, Joint Director at ICSI.
After a floral welcome by the faculty members, the session was started by Mr. Rahul Chandra, Joint Director, ICSI explaining the three
pillars of corporate governance: Compliance, Transparency and CSR. He said that earlier the businesses believed that the business of
business is only to do business, whereas today the focus has shifted towards the welfare of the society as a whole. The narrow concept of
welfare of shareholders has been replaced by the broader concept of welfare of stakeholders. Companies can follow ancient wisdom from
Taittariya Upanishad i.e. “Forever speak the truth and follow the dharma.”
Thereafter Ms. Bharti Taneja, Founder, Director at Alps International Academy, presented her experiences as to how Alps Beauty Clinic
was established at a time when the Beauty Industry was not considered a respectable industry and how it has slowly and steadily been
transformed in a corporate sector today. As a result, need for good corporate and social responsibility is continuously rising in the personal
care industry.
Next in line, Ms. Ishika Taneja, Executive Director, Alps Beauty Clinic highlighted how her organization, Alps Beauty Clinic, converted a
major problem into social welfare activity. The employees needed training but no one was ready to be practiced upon. Alps used this as an
opportunity and tied up with an NGO involved in helping blind people. They were given free makeovers and thus, the welfare of the
society was linked with the welfare of the organization. Also, Alps Beauty Clinic contributed Rs. Twelve Lakhs to the Nirbhaya Fund and
is running various programmes for supporting women and disadvantaged sections of the society.
The next speaker, Prof. (Dr.) R. K. Mittal, Former Dean, USMS, highlighted that sustainable development requires good corporate
governance and it requires resources to be considered as Valuable, Rare and Inimitable. Growth & development must benefit all
stakeholders. Companies should not have narrow focus on shareholder’s wealth maximization; they need to work for benefit of all
stakeholders. They must pursue activities within legal framework and work for protection of environment as well.
The last speaker, Advocate, Ms. Aishwarya Bhati, Secretary, SCBA, highlighted the role of PILs (Public Interest Litigations) in
strengthening the environmental laws. Judiciary through PILs acted as a catalyst in formation of environmentally sound policies. The
mother earth has sufficient resources for genuine needs of everyone, but not for greed of everyone. CSR is not just mandatory, it is
desirable as well. CSR is inward looking, outward looking as well as forward looking; thus it helps an organization in course correction in
line with the needs of the society.
The panellists shared a story from epic Mahabharata that summed up the entire discussion. When Bhishmapitamah asked Shree Krishna
what his fault was despite of following ethical values and principles all his life, Shree Krishna replied that his only sin was that of
considering his promises to be supreme even at a time when he should have broken them and supported the right people. Similarly,
Companies should not consider themselves superior than the society. Whatever is the scale of its operations, the company has an
obligation to give back to the society from which it derives its inputs.
In the end, all the experts were appreciated for sharing their experiences with the audience and were felicitated with mementos. Day one of
the conference ended with a clear message of “Satyam Vada Dharmam Chara”, i.e., forever speak the truth and follow Dharma even in
your corporate life- a message that will reverberate in the minds of the audience for long times to come.
Day 2 : 11th April, 2015
Panel Discussion: Corporate Governance and Business Ethics
Day 2 commenced with panel discussion on Corporate Governance & Business Ethics. The panel comprised six experts namely: Mr. C.K
Thakur, President and CEO, Power Division, Punj Llyod, Punj Sons, Delhi, Mr. Rajiv Bajaj, Company Secretary, Associate DirectorFinance, Panasonic AVC Networks India Co. Ltd, New Delhi, Mr. Ankit Mathur, Management Consulting- FM, KPMG Global Services
Pvt. Ltd., Dr. Meenu Gupta, Deputy General Manager, Power Finance Corporation, New Delhi, and Dr. S.K Gupta from ICSI.
The panel convenor Mr. C. K. Thakur initiated the panel discussion by throwing up brain storming questions like – Why organization
fails? Why we need good corporate governance? What type of framework is needed for good corporate governance?
Taking the discussion further, Dr. S. K. Gupta, ICSI, told that corporate governance and business ethics are both required for long term
sustainability of any organization. Every board of an organization sets the tone of corporate governance and ethics. He quoted an example
of a show ‘Walk The Talk’ where Mr. Sheker Gupta roams around and takes interviews of celebrities. In an interview with Mr. Ratan
Tata, he asked as to why Reliance group which is newer, has grown bigger than Tata group, which happens to be very old. Mr. Ratan Tata
replied that they do not believe in size but in principles.
In continuation, Mr. Rajiv Bajaj added that ethics need to be followed by every employee in the organization. Front desk employee is also
important. A taxi driver alone, if unethical, can result into closure of a company. He said governance and ethics work hand in hand. Each
& every employee has major role to play in good corporate governance. He also said that independence of board is key factor of good
governance. Compromises made at top level affect the governance.
To this Dr. Meenu Gupta added that each and every individual is important for ethics and explained it by using an example. One of textile
firms decided to sell the defective goods (which could not sold be in the market) at hefty discount to their employees. After sometime,
losses started rising. So company tried to identify the reason for the same and later it was found that employees started producing
defective goods so that they could get more benefits as individuals. Thus not only top level but every individual in organization is
important for nurturing an ethical environment.
Moving ahead, Mr. Ankit Mathur started the discussion with recalling the barter system where products should have same legacy to
exchange products, similarly every step in organization should be ethical. He highlighted the case of PWC vs Satyam and said that
auditors also need to be ethical so as to safeguard the interests of all stakeholders including shareholders.
After the presentation of views by all the panellists, the convenor Mr. C. K Thakur summarized the discussion by saying that Corporate
Governance is a process. Long term sustainability is not possible without good corporate governance. India is just ranked 143 out of 180
in the ethical index. All the companies need to have their own code of conduct.
Lastly Mr. Ankit Mathur concluded the discussion with his power point presentation. It was followed by questions from audience which
were very beautifully explained by the panellists. The panel discussion ended with presentation of mementos to all the panellists.
Day2, Session- I : Paper Presentation (Main Auditorium)
After a very engaging morning session of Panel Discussion, it was time for the presentation of the research papers by the faculty members,
and delegates from our institute as well as various other colleges and institutes spanning DU, IPU etc. Theme of the session was
Corporate Social Responsibility: Issues and Challenges in Globalisation.
A brief welcome address was given by Prof (Dr.) V.K. Khurana who welcomed the session chair Mr. S. K. Urmalia, Former Director, PFC
and delegates. Thereafter, Mr. S. K. Urmalia, in his address, underlined the importance of research as to how it helps in establishing new
facts and uncovering new philosophies. Subsequently Prof (Dr.) V.K. Khurana asked the authors / researchers to commence the
presentation of their papers. The detail of papers presented in the conference is as follows:
Author’s Name
Organizational Details
Paper Title
Dr. Suman Dahiya
&
Mr. Sachin
*Assistant Professor, Dept. Of commerce
Central University of Haryana
Mahendergarh
**Assistant Professor Dept. Of commerce
Central University of Haryana, Mahendergarh
Corporate Social Responsibility And Bottom
Line
Dr Namita Rajput,
Ms. Shelly Oberoi
&
Ms. Bharti
*Associate Prof &
**Assistant Professor
Sri Aurobindo College, University Of Delhi
***Assistant Professor
USMS, GGS Indraprastha University
Do Social Responsibility And Governance
Practices Impact Corporate Financial
Performance: An Analytical Study
Dr Namita Rajput
Ms Kamna Chopra
&
Ms Bhavya Malhotra
Ms. Anju bharti
Ms. Parigya Gupta
&
Ms. Garima Gaur
Dr. Saroj Rani
&
Ms. Jyotsna
Ms. Revathi Nair
&
Ms. Shaily Mudgal
Ms. Amanpreet Kaur
&
Ms. Ankita sang
Ms. Sapna Nair
*Associate Professor
**Assistant Professor
*** Assistant Professor
Sri Aurobindo College
University of Delhi
Assistant Professor, Maharaja Agrasen Institute Of
Management Studies, Delhi
Angling Sustainability: Stakeholder
Expectations And Insights On The CSR
Mandate Under The Companies Act 2013
*M.B.A. Student, Maharaja Agrasen Institute Of
Technology (GGSIPU), Delhi
**M.B.A. Student, Maharaja Agrasen Institute Of
Technology (GGSIPU), Delhi
*Asst Professor, Deptt of Economics, Maitreyi
College, University of Delhi
**Asst Professor, Deptt of Commerce, Maitreyi
College, University of Delhi
Corporate Social Responsibility: A
Comparative View
*M.B.A. Student, Maharaja Agrasen Institute Of
Technology (GGSIPU), Delhi
**M.B.A. Student, Maharaja Agrasen Institute Of
Technology (GGSIPU), Delhi
*Assistant Professor, University of Delhi
**M.B.A. Student, Maharaja Agrasen Institute Of
Technology (GGSIPU), Delhi
Green Marketing- A Tool Of Corporate Social
Responsibility
M.B.A. Student, Maharaja Agrasen Institute Of
Technology (GGSIPU), Delhi
Corporate Social Responsibility – Initiatives
Of Indian Companies
Corporate Social Responsibilitiy In India:
Monitoring In The Age Of Globalization
Sustainability Of Corporate Social
Responsibility In India :
A Study of ITC’s Initiative
‘E-Choupal
Corporate Restructuring And Motives For
Share Buy Back In India
The primary focus of each presentation was on Corporate Governance and the fact that it essentially involves balancing the interests of the
many stakeholders in a company - including its shareholders, management, customers, suppliers, financiers, government and the
community. Efforts were also made to link Corporate Governance with CSR, which is precisely concerned with treating the stakeholders
of the firm ethically or in a socially responsible manner. In the end, Dr S K Urmalia summarized the session proceedings by saying, “Goof
efforts have been made in most of the research papers. Corporate Governance is a vast topic and many issues have been covered in each of
these papers.”
Day2, Session II : Paper Presentation (Seminar Hall, 7th Block Basement)
The session II on Corporate Governance and Strategic Changes was held in Seminar hall and it proceeded parallel to session I. It was
chaired by Dr. Meenu Gupta, Deputy General Manager, Power Finance Corporation and Ms Ila Bajpai.
The session began with the presentation of floral bouquets to the panel members. Thereafter, Dr. Meenu Gupta, asked the authors /
researchers to commence the presentation of their papers. The list of paper presenters and details of their papers is as follows.
Author’s Name
Ms. Veenu Gupta
&
Ms. Nidhi Gupta
Organizational Details
Paper Title
*Former Assistant Professor At DIRD College Corporate Governance And CSR: Their
**Assistant Professor, Govt. Girls College, Jind Interrelationship
Ms. Meenu Rani
&
Ms. Risha Khandelwal
*Asst. Professor in Commerce
M.K.M College, Hodal
**Asst. Professor in Commerce
M.K.M College, Hodal
*M.B.A Student, Maharaja Agrasen Institute Of
Technology (GGSIPU), Delhi
**M.B.A Student, Maharaja Agrasen Institute
Of Technology (GGSIPU), Delhi
Business Analyst, TATA Consultancy
Services Ltd.
Assistant Professor, Maharaja Agrasen Institute
Of Management Studies, Delhi
Sound Corporate Governance –A Ladder To
Sustainability For India
M.B.A Student, Maharaja Agrasen Institute Of
Technology, (GGSIPU), Delhi
M.B.A Student, Maharaja Agrasen Institute Of
Corporate Governance And Strategic Change
Ms. Shivangi Aggarwal
&
Mr. Rahul Anand
Ms. Gurmita Sharma
Ms. Taranpreet Kaur
Ms. Bhawna Patial
&
Ms. Prabhjeet Kaur
CORPORATE GOVERNANCE PRACTICES IN
INDIA- A COMPARATIVE STUDY OF
SELECTED BANKS
Corporate Governance And Firm
Performance: A Literature Review
Corporate Governance: Reporting And
Disclosure Practices
Ms. Shruti Kapoor
&
Ms. Ashima Gaba
Technology, (GGSIPU), Delhi
M.B.A Student, Maharaja Agrasen Institute Of
Technology (GGSIPU), Delhi
M.Com Student, Hindu College, University Of
Delhi
Corporate Governance Practices &
Increasing NPAs: A Study Of Public Sector
Banks
In response to the presentation of the paper on “Corporate Governance Practices & Increasing NPAs: A Study Of Public Sector Banks”,
Dr Meenu Gupta said “In India, Non-performing assets are one of the major concerns for banks. NPA is the best indicator for the health of
the banking industry and they also reflect the performances of banks. NPAs are an inevitable burden on the banking industry. Hence the
success of a bank depends upon methods of managing NPAs.”
Both Dr Meenu Gupta & MS Ila Bajpai lauded the efforts of all the researchers / presenters and asked the researchers / presenters to move
on the journey of research sincerely. The session ended with presentation of mementos to both distinguished guests.
Day2, Session- III : Paper Presentation (Main Auditorium)
The post-lunch session on second day of the Second International Conference on Corporate Governance was held in the main auditorium.
The session included research paper presentation by esteemed paper authors from various prestigious institutions. The session was chaired
by Mr. S.K. Urmalia, Executive Director, Power Finance Corporation, who was joined by Prof. (Dr.) V.K. Khurana as co-chair.
At the outset, Prof. (Dr.) V.K. Khurana invited the researchers / presenters to commence their paper presentation. The list of paper
presenters and details of their papers is as follows.
Author’s Name
Organizational Details
Paper Title
C.S. Manish Gupta
Vice – Chairman, NIRC of ICSI
Ms. Rajni Hira
&
Ms. Kashika Sud
*Assistant Professor, Maharaja Agrasen
Institute Of Management Studies, Delhi
**Assistant Professor, Educomp Raffles
Higher Education Limited
Duties And Responsibilities Of The Directors Of A
Company
Achieving Social Responsiveness Through Spiritual
Leadership
Ms. Shilpa BSL
Dr. Manish Madan
Ms. Esha Jain
Ms. Sapna Lakra
Dr. A. Lenin Jothi
Dr. Asha Agrawal
Ms. Aisha Kakkar
Assistant Professor, Maharaja Agrasen
Institute Of Management Studies, Delhi
Associate Professor, Rukmini Devi
Institute Of Advanced Studies
Assistant Professor, School Of
Management, G. D. Goenka University
M.B.A. Student, Maharaja Agrasen
Institute Of Technology, (Ggsipu), Delhi
Raising Ethical Issues Of Governance In Joseph
Conrad’s Short Story: An Outpost Of Progress
Impact Of Organizational Culture & Climate On
Managerial Effectiveness: An Empirical Study
Professor
Rukmini Devi Institute Of Advanced
Studies, Delhi
TGT, Delhi Administration
A Study On Corporate Leadership Challenge,
Innovation & Its Changes Environment
Assistant Professor, Delhi Institute Of
Rural Development (GGSIPU), Delhi.
New Companies Act 2013 In India, Issues And
Challenges
Legal Investor Protection And Concentrated
Ownership:
An Approach To Corporate Governance
Each presented paper was thoroughly researched and real-time facts and figures were used. Dr S K Urmalia appreciated the efforts of all
the researchers / presenters and asked the researchers / presenters to pursue the quest for research aggressively. The session ended with
presentation of mementos to both distinguished guests.
Valedictory Session
After the paper presentation, the Conference Conveners Dr. Urvashi Sharma and Dr. Vinita Gupta gave a vote of thanks. Dr. C.S. Sharma,
Director, MAIMS, appreciated every team member associated with the organizing team. The conference ended on a positive note leaving
a lasting impact on the minds of budding managers and entrepreneurs.
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