The meeting, chaired by company affairs minister Prem Chand Gupta, also decided that further steps be taken on issues like research and case studies, a corporate governance policy for large institutional investors and corporate governance audit, after wide consultations with the stakeholders.
The governing council approved the accreditation of the institutions on ad-hoc basis as NCCGs. These are IIM Ahmedabad, IIM Banglaore, IIM Kolkata, IIM Lucknow, Administrative Staff College of India (Hyderabad) and Indian School of Business (Hyderabad).
The governing council also approved the decision of the board of trustees to develop linkages with international organisations.
Infosys chief mentor NR Narayana Murthy was nominated as the second vice-chairman of the governing council.
NFCG, a trust set up by the government in association with the CII, ICAI and Institute of Company Secretaries of India, has been incorporated with the objectives of deliberating issues relating to good corporate governance, self-regulation and directorial responsibilities and to provide research and training in the field of corporate governance.