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Business Advisor - Volume I Part 1 - October 25, 2012 - Preview

Business Advisor - Volume I Part 1 - October 25, 2012 - Preview

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Published by D. Murali
Preview of inaugural issue of a fortnightly with inputs for finance, corporate governance, accounting, and tax professionals and executives on the recent developments in legislation and practice in these domains. Also, strategic insights that are relevant to heads of enterprises.
Preview of inaugural issue of a fortnightly with inputs for finance, corporate governance, accounting, and tax professionals and executives on the recent developments in legislation and practice in these domains. Also, strategic insights that are relevant to heads of enterprises.

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Published by: D. Murali on Oct 20, 2012
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07/05/2014

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Volume I Part 1 October 25, 2012 1
Business Advisor
 
Business Advisor
(Fortnightly inputs for professionals and executives) 
Volume I Part 1 October 25, 2012
 
o
 
Governance and Board Diversityby Ramesh Venkataraman, CEO,CurAlea
o
 
Queries & Replies: Service tax andIncome tax
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The long wait for clarificationsfrom the Service Tax Department 
 Joseph Prabakar, Advocate,Chennai
o
 
Circular on freebies, Service TaxOrder on due date
o
 
Case law updates by V. K.Subramani, Chartered Accountant,Erode
 
Volume I Part 1 October 25, 2012 2
Business Advisor
 
Dear readers:
We are happy to announce the launch of ‘BusinessAdvisor’ as a fortnightly online magazine to update
finance, corporate governance, accounting, andtax professionals and executives on the recentdevelopments in legislation and practice in thesedomains.Watch this space for the details about the expertsand senior professionals who will be associating
with ‘Business Advisor’ as editorial board
members.For subscriptions, contact Shrinikethan, 34Second Main Road, CIT Colony, Mylapore,Chennai 600 004.Feel free to send in your suggestions and feedbacktodmurali@outlook.com.  Wishing you a productive reading!D. Murali, Editor
 
Disclaimer
: "Management and editors do not necessarily agree with theviews of the authors in their articles and of the readers in their letters,and of the query editors in their replies. The editors, authors and / orpublishers shall not be responsible for any kind of result generated outof any action taken on the basis of suggestions, etc., made in any of thewrite ups, interviews contained in any part of the magazine or for any error, omission, commission to any person, whether subscriber orotherwise. The copyright of all the materials printed herein includingarticles, queries and replies etc., rests with the publishers".
 
 
Volume I Part 1 October 25, 2012 3
Business Advisor
 
Governance and Board Diversity 
Ramesh Venkataraman 
 
Inadequate gender diversity on Indian boards hasbeen a topic of heated discussion in recent times.A recent news item said representation of womenin Indian Boards at 5% was amongst the lowest inthe world. Half of the companies that form theNifty Fifty have at least one woman director, so atthe macro level all looks well as far as diversity incorporate India is concerned. However, a closerlook at gender diversity in Indian Boards revealsan interesting picture.Let us look atpresence of diversity before assessing its representation. Three out of four PSUs in the Nifty Fifty have womendirectors, so the public sector is leading thepack in bringing about greater gender diversity at the top. This is not surprising given the focusof the government on this aspect. Newgeneration industries i.e. IT, private banks andpharma follow, where around half thecompanies on the Nifty Fifty have womendirectors on the Board. In the case of thetraditional private sector engineering-cum-manufacturing companies and MNCs, only a third of the corporates on theNifty Fifty have gender diversity on their boards. Interestingly, maledomination of boards in traditional engineering companies is a globalphenomenon that is changing only in recent times.In terms of representation, women directors constitute 6% of the totaldirector strength of the Nifty Fifty companies overall. Again the PSUs leadthe pack with a representation of 9%, followed by the new age businesseswith 7%. The private sector manufacturing and MNC companies have arepresentation of 3%, not surprising given the fact that many of them do nothave women directors. Interestingly, only 6 of the 50 companies have morethan one woman representative on the board and Coal India with 4 womendirectors tops the list.
In terms of representation,women directorsconstitute 6% of the total directorstrength of theNifty Fifty companies overall.
 

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Agarwal Sanjiv added this note
Dear Mr Murali, It is indeed a great effort. My compliments to u and your team. I would love to be associated. Rehards, sanjiv
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