Faculty of Management Studies (FMS), University of Delhi organised Annual Convention 2013, following a rich tradition of 36 years. The Annual Convention has over the years provided excellent opportunities for leading policy makers, industry leaders, academicians, entrepreneurs and management thinkers to get together and brainstorm on the latest management trends and path-breaking innovations in the industry. The theme of the Convention this year was “Challenges to Effective Governance”.The venue was the very grand TajAmbassader Hotel and the event was organised in association with The Financial Express.

The panel consisted of the following elite personalities:

• Mr. Balwinder Singh (Advisor, Ministry of Corporate Affairs; Former Special Director, CBI)
• Mr. AnupamKulshreshtha (Director, NIFM and ex-Deputy CAG)
• Mr. P.K. Tiwari (Head of Financial Intellegence Unit, Ministry of Finance)
• Mr. Sameer Pathak (Senior Manager, Coke)
• Dr. Raj S Dhankar(Dean, FMS Delhi)

The opening address was given by Mr Richie Pandey, Secretary, TeamFiesta who welcomed the speakers.The inauguration speech was delivered by Dr. Raj S Dhankar, who opened the discussion by throwing light on what corporate governance is. He discussedthe limited wealth maximisation in our country which is one of the biggest problems of corporate governance. He put great emphasis on the welfare of stakeholders which requires to be maximised. He concluded with the opinion that conversion of protocols into opportunities can reduce the challenges to corporate governance to a large extent.

Mr. Sameer Pathak mentioned the skill development and other activities that prove beneficialto corporate governance. Drawing heavily from the Coke model, he described the various ways in which these measures could be implemented. Mr.Balwinder Singh mentioned that good corporate governance is vitally important for sustainable economic development. He explained the main tools and challenges of corporate governance while focussing on the dwindling role of auditors and the board members. He discussed the various kinds of failures of corporate governance and how these pitfalls could be avoided.

Mr. AnupamKulshreshtra examined the functioning of independent directors and the Auditors. He laid emphasis on their interdependent roles and how they could create effective checks and balances. Mr P. K. Tiwaritalked about the importance of effective auditors in the corporate world. He opined that the first step to effective corporate governance was both the presence and implementation of strong auditing standards.

After the enlightening speeches of the distinguished speakers, questions from audience were also entertained. The discussion was followed by lunch which also allowed the inquisitive students to interact with the panel members and enhance their understanding of the discussions of the day.