Reliance Industries Ltd’s (RIL) newly constituted corporate governance committee has asked the company’s management to submit a comprehensive report on the present status on the implementation of corporate governance practices.The committee, comprising independent directors Y.P. Trivedi, D.V. Kapur and M.P. Modi, held a marathon meeting in Mumbai on Wednesday. The meeting discussed that the management should adhere to transparency and the norms specified for insider trading in particular. The committee would hold its next meeting by the end of this month.An independent director said the committee also discussed at length the report prepared by rating agency, Crisil, on RIL’s corp gov practices. “The committee is of the view that the recommendations made in the Crisil report can be implemented by RIL. There should be transparency in functioning and the norms for insider trading should be adhered to,” the director said.
