It industry body Nasscom today announced the formation of a corporate governance and ethics committee,to prevent the recurrence of a fraud such as the recent Satyam scam in the Indian IT industry.
The committee will be chaired by N R Narayana Murthy,chairman and chief mentor of Infosys Technologies Ltd,and will function as a permanent sub-committee under the aegis of the Nasscom Executive Council.
Nasscom president Som Mittal said,This committee will look to work with authorities,policy makers and regulators,to achieve the objectives of this group.
Envisaged as an eight-member committee,the members will include industry experts,independent directors and academicians and will meet at least three times a year. Earlier,Nasscom Chairman Ganesh Natarajan had elaborated on the formulation of the committee while announcing industry forecasts for the sector.