In recent times, many cases have come to light where stocks of companies were hammered in a short span of time. Banking and Financial Services sector, IT majors and even a few conglomerates have been all over the headlines throughout the year. Companies like Infibeam, PC Jewelers, Nirav Modi, Fortis, and even stocks of Infosys and Tata group companies were not spared. Reputed financial institutions like ICICI have been accused of allowing transactions which were not in the interest of the bank’s profitability. In case of Infosys, institutions were even worried that the board was allying with the founder-promoters rather than focusing on the shareholders. A common thread between all these events was ‘Weak Corporate Governance’. The vicious cycle which starts with weak corporate governance ultimately ends with the director stepping down from the board. The same has been seen in cases where, as a corrective measure, the RBI had refused to extend the tenure of CEOs.
Corporate governance is all about ensuring that the company’s management is acting in the interest of the shareholders. However, there are many challenges that are prevalent. Firstly, independent directors have failed to make their mark as they are easily pressurized by the majority shareholders and the last thing they want is to be seen as troublemakers for the management. Secondly, institutional shareholders have not been very assertive on the boards. Thirdly, proxy firms are yet to take off in India and a handful of proxy firms, at best, play the role of a sounding board for shareholders. Lastly, managements have not really given much thought to corporate governance, since there is no direct correlation between corporate governance standards and the market value of the stock.
The entire scenario boils down to the following questions: Is there a need for a central regulatory authority to oversee corporate governance issues? Does the board perform in the larger interest of the shareholders? Are the independent directors actually non-partisan? Do the companies have adequate risk management systems in place? What should be the board’s approach towards CSR? It is to address these issues, with the aim of obtaining solutions to these questions, we look forward to SIM’ergence ’19.
The Student Social Responsibility Committee brings to you our new initiative ‘MRUDGANDHA’, with the theme of “Attaining Equalities”.
This year we have partnered with TEACH (Training & Education for the Hearing Impaired) – an NGO which was established with an aim to ensure equal and comprehensive post-schooling educational opportunities for the hearing impaired.
Training and Educational Center for Hearing impaired (TEACH) is a registered not-for profit organization that has created a facility of Higher education for the deaf & also initiated a School Transformation Project for the schools for deaf in Mumbai. TEACH was founded in 2016 and since then enabled a substantial number deaf children to attain education.
Vision – Outreaching Education
TEACH aims to be a Model Institute for Deaf children in India, where a deaf child is empowered with skills and knowledge to become self-dependent.
TEACH has designed two programs under its educational umbrella. The core program is a “Higher Educational Institute” and “School Transformation Project” is a facilitator to its Higher Education.
- Higher Educational Institute: TEACH is a pioneer in setting up a higher educational institute for deaf in Mumbai. Among the other NGOs working in higher education space, TEACH has the highest number (71) of students in its facility and that’s only because of the focus on “Overall Development”. TEACH operates in two locations, Kalina (Mumbai) and Seawoods Darave (Navi Mumbai).
Features of Higher Educational Institute:
- Specially designed curriculum of English and Math for deaf children
Talk by Dr. Sangeeta Pandit, Prof. & HOD Finance, at the Confederation of Indian Industry ( CII ) event in association with SIMSREE -‘Start Up India, Stand Up India – Enablers and way ahead’ on Saturday, 16 January 2016.
Convergence a case study competition
Sydenham Institute of Management Studies, Research and Entrepreneurship Education organized Simerations’13- an Inter-college Annual Management cum Cultural festival. The 19th edition of SIMERATIONS’13 – A management and cultural festival was the ultimate platform for India’s youth from the prominent graduation colleges to showcase their acumen in a variety of management, Sports, Cultural and Literary events. It was held for 3 days i.e. on 20th, 21st and 22nd September 2013
During this festival, SIMCON – SIMSREE Consulting Club in association with “Benchmark Six Sigma” organized an event CONvergence- an Inter B school case study competition.
FISCUS 2013 : India and China – The New Torch Bearers of World Economy
5th October 2013 is a date that all SIMSREE students will remember for a long time. Through FISCUS ’13 – the annual financial summit of the institute – it was an honor and a privilege to have with us the stalwarts of finance in the corporate world. The theme for this year’s FISCUS was ‘India and China: The new Torch Bearers of World Economy’.
On 25th July, 2013 SIMCON in association with ZENeSYS learnings Ltd. arranged a consulting induction program for junior batch. Students also appeared for a “consulting fitment test” a day prior to the session which gave them a basic idea about their inclination towards different types of consulting.
It gives us great pleasure to announce that SIMCON – SIMSREE Consulting Club has successfully hosted Green Belt Certification drive in association with KPMG- world’s leading providers of audit, tax and advisory services.