Corporate Actions, Dividends & Governance

Independent Director

A board member with no material pecuniary relationship with the company, its promoters or its management.

Test: the director meets the statutory independence criteria on relationships, remuneration and tenure, and is so declared annually qualitative

Insider Trading

Trading in a company's securities while in possession of unpublished price-sensitive information about it.

Test: the person is an insider, possesses unpublished price-sensitive information, and trades or communicates it without a legitimate purpose qualitative

Corporate Actions, Dividends & Governance

Insolvency and Bankruptcy Code

India's 2016 law establishing a time-bound process for resolving corporate insolvency or liquidating the company.

Test: on admission of a default, a resolution professional takes control and a resolution plan must be approved within the prescribed period or liquidation follows qualitative

Corporate Actions, Dividends & Governance

Interim Dividend

A dividend declared by the board during a financial year, before the annual accounts are finalised.

Test: the dividend is declared by the board mid-year and paid before the annual general meeting approves the final accounts ₹