Amity Law School New Delhi (G.G.S.I.P. University) organized one day National Seminar on Emerging Trends in Corporate Governance – Legal Issues & Challenges in India at F1 Seminar Hall, Amity University Campus, Sector-125 Noida.
Justice B.A. Khan, Former Chief Justice of J&K High Court & President – SAARC Law India; Dr. Sanjay K Pandey, Joint Director (Law) – Competition Commission of India, Mr. U.K. Chaudhary, Sr. Advocate – Supreme Court of India; Prof. M.K. Balachandran, Chair Professor for Chair for Law – Amity Law School; Prof. (Dr.) B.P. Singh Sehgal, Director – Amity Law School New Delhi inaugurated the National Seminar.
Chief Guest of the occasion, Justice B.A. Khan, Former Chief Justice of J&K High Court & President – SAARC Law India said that in our country one may witness the ugly face of corporate governance. There is no mechanism to check the internal working of a company. There are many examples where companies collected money from general public in the name of lucrative schemes and vanished overnight. Justice Khan added that till the time corporate sector does not understand its responsibility, these fraudulent incidents will keep happening. Legal mechanism is needed to be incorporated in the corporate governance. Company should be aware of the legal provisions and also disseminate the awareness to fellow shareholders.
Mr. U.K. Chaudhary, Sr. Advocate – Supreme Court of India said that there is sweeping wind of change across the country to bring together individuals, corporate and all. Corporate people are like ordinary people should come forward to perform their social duties. Mr. Chaudhary added that gone are the days when business was meant only for profit making, now corporate not only have social responsibility but also have to act transparent in accordance to the legal framework. Corporate governance means not to be unfair towards shareholders, not to manipulate accounts of the company and be ready to give atleast 2% of net profit towards social welfare. Mr. Chaudhary said that presently, India is number four economy of the world and very soon will become No. 1 but it can happen only when the corporate administration understands their social responsibilities.
Dr. Sanjay K Pandey, Joint Director (Law) – Competition Commission of India talked about law and policies relevant in the corporate governance and said that the policies play important role for economic growth of the company. In the last one decade many changes were seen in regulations and laws related to corporate. Dr. Pandey added that Manufacturing, Trade and Competition are the core areas for corporate governance. Dr Pandey urged students to be aware of Competition Compliance law and corporate governance so that they should become good corporate citizen in the future.
Prof. (Dr.) B.P. Singh Sehgal, Director – Amity Law School New Delhi said that the basic aim for organizing this seminar is to provide an understanding to the students regarding corporate governance and the emerging trends in this field. Prof. Sehgal said that although not much study material is available on corporate governance but students can benefit from these kinds of seminar and can enrich themselves from the deliberations by the experts. Prof. Sehgal added that there are many social and environmental activities which corporate can do as CSR activities like setting up of hospitals, schools, parks etc.
Discussions were held post inaugural session on the various topics including Corporate Administration, Competition Regulation, E-Governance, Dispute Resolution System in which Dr. S.C. Raina, Professor – Campus Law Centre, Dr. Manjula Batra, Dean – Jamia Milia Islamia University, Prof. R.L. Kaul – Amity Law School Noida participated.
Senior Officials, faculty members and students of Amity Law School, Amity University were present during the occasion.