Report Finds Many State-Run Companies Lack Required Independent Directors and Women on Boards

A recent report by Excellence Enablers highlights governance challenges in India's public sector enterprises, with 36 Maharatna and Navratna companies failing to meet the Companies Act requirement of having at least one-third independent directors in FY25. Seventeen companies also lacked women directors. The report notes persistent non-compliance since FY22 and emphasizes the need for improved board diversity and adherence to governance norms across both listed and unlisted PSUs.