HYDERABAD: Board members of private sector companies shouldn't assume the role of governors, who are traditionally called rubber stamps, but should execute the role with complete accountability, fairness and transparency said governor E S L Narasimhan."Corporate governance rests on the four fundamental cornerstones of fairness, transparency, accountability and responsibility. Managing these expectations and fulfilling the growing aspirations will determine the performance scorecard of all future policy and governance regimes," he said while addressing the gathering at an event organised by the Institute of Company Secretaries of India (ICSI) Friday.According to Union minister for corporate affairs M Veerappa Moily, company secretaries are playing an important role of a business manager and value enhancer to board on good practices, sustainability and ethics.Meanwhile, ICSI conferred Ajim Premji, founder of Wipro Technologies with the lifetime achievement award for translating excellence in corporate governance into reality, while Gail India Ltd and Hindustan Unilever Ltd were awarded BestGoverned companies in India.
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