Top firms tick boxes, but lag on diversity, independence

India’s top 100 listed companies have shown progress in corporate governance practices, but persistent gaps remain in board meeting attendance, diversity, and leadership independence.

- Dipali Banka

Companies have continued to exceed the mandatory four board meetings a year.

(ISTOCKPHOTO)

The findings were part of a survey on corporate governance by Delhi-based firm Excellence Enablers, founded by M. Damodaran, former chair of the Securities and Exchange Board of India.

Mint breaks down key findings of the survey.

Companies have continued to exceed the mandatory four board meetings a year. In FY25, out of 100 companies, 32 conducted more than or equal to 10 meetings compared to 27 in FY22. This is a clear positive as it shows an increase in board activity.

However, fewer companies had directors with perfect attendance in FY25 compared to FY22, while more companies fell into the 75-99% attendance range.

Mint reported that Ola Electric chairman Bhavish Aggarwal missed about three-quarters of board meetings in the last financial year.

However, Ola Electric is not part of the top Nifty 100 companies.