The implementation of corporate governance norms has become important in the light of April 1, 2001 deadline as all group `A' companies are supposed to adhere to the Kumar Mangalam Birla committee recommendations on corporate governance.

Confirming that CII is currently providing consultancy to three big industrial houses on corporate governance, CII chief economist Omkar Goswami told The Financial Express that two big corporate houses have also approached CII recently to advice on corporate governance. However, he declined to disclose names of the company. "Due to the confidentiality clause we cannot disclose names of the companies," Dr Goswami said. Sources, however, confirmed that Godrej, Tatas and Bajaj Auto are among the group `A' companies approached CII to advice on corporate governance.

Dabur also had an informal meeting with CII on the issue of corporate governance, sources added. Dabur spokesperson, however, said that the company has constituted an internal committee to implement corporate governance code headed by Dabur India director PD Narang.

"The committee is responsible to implement the corporate governance code as stipulated by the Securities and Exchange Board of India (Sebi) and recommended by the Kumar Mangalam Birla committee by April 1," the spokesperson said.

CII has already helped Bajaj Auto to implement corporate governance norms. "We have also undertaken two World Bank projects and one project of OECD related to corporate governance," Dr Goswami said.

CII has also impanelled a list of 150 independent directors from among the imminent corporate personalities. It recommends the name to companies on request, keeping their requirements into account. "The exercise would help the Group `B' companies to get independent directors in the board," Dr Goswami said adding that due to time constraints it is difficult to find independent directors.

In order to spread awareness for better corporate governance in domestic companies, CII is also organising a series of one-day directors' programme in four metros, Mumbai, Delhi, Banglore and Chennai.

Speaking about the thrust areas of CII on corporate governance, Dr Goswami said: "Our activities includes, increasing substantially the level of disclosure in annual and half yearly reports even beyond Sebi guidelines, getting right kind of independent directors for the board, develop procedure for effective board meetings and maintain transparency in investors' relation."