The government said today the role and responsibilities of independent directors on the boards of companies would be fixed as also the number of firms they could represent once the Companies Bill, 2009, became a law.
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A year after Lehman Brothers, the 158-year-old Wall Street investment bank, filed for bankruptcy — signalling the global financial system’s descent into Great Depression II — the Bombay Stock Exchange (BSE) Sensitive Index has risen 16 per cent, after having hit a low of 8,160 in early March.
The country’s foreign exchange reserves fell $1.13 billion in the week up to September 11 to $284.4 billion on the back of portfolio investments and revaluation of currencies.