Topic: Independent Directors : Why? When ? Who? 

Speaker: Shri CA MP Vijay Kumar, Executive Director & Group CFO, SIFY Ltd.

Presentation:

- How do Independent Directors add value

- Dos and Don’ts for Independent Directors for Board effectiveness

- Evolving practices

Speaker’s bio:

Qualified as a Chartered Accountant ICAI (rank holder in the Inter & Finals ) and a Cost Accountant (ICMA), and a Company Secretary (ICSI) Shri CA MP Vijaykumar, started his career with Sundaram Finance Services Ltd.(SFSL), the Investment Banking arm of Sundaram Finance Ltd, a top-notch NBFC, leading as  Head - Investment Banking, Head - Finance, Accounts and Company Secretary. Later after his 7 year stint with Sundaram Finance group, he became a partner of M/s Yoganandh & Ram  LLP, an established firm of Chartered Accountants, at Chennai, (Registered with PCAOB,US.)  for over 8 years. Thereafter he again moved to industry with SIFY Ltd, as the Executive Director & Group CFO for over 16 years and continuing. SIFY is India's largest Information & Communications Technology (ICT) company listed in Nasdaq for over 15 years and also the Winner of Golden Peacock Award for Business Excellence (2014)

Special achievements:   

Endowed with proficiency and expert knowledge in finance, compliance and accounting, he was much sought after for his guidance on technical matters. He pursued his passion vigorously by joining and holding positions of authority in various illustrious bodies of professional knowledge as below: 

a) Central Committee Council Member of Institute of Chartered Accountants of India (2016-22). 

b) Chairman of the Accounting Standards Board, ICAI. 

c) Chairman of Digital Accounting & Assurance Board and Valuation Standards Board, ICAI 

d) Vice Chairman of the Accounting Standards Board, Financial Reporting Review Board and Committee for Accounting Standards for Local Bodies - ICAI. 

e)  Member, IFRS Interpretation Committee of IASB (2021-  2024), IFRIC (revised from 2021-2024 to 2021-2027 following his reappointment for second term.)           

f) Member IFRS Advisory Council (2019-24) and 

g) Member - IFRS Small Medium Enterprises Implementation Group (SMEIG) (2020-2023)

h) Member, Insurance Regulatory and Development Authority of India ( IRDAI), Expert Committee on implementation of IFRS ( 2022) in Indian Insurance sector. 

i) Member, Committee of External Eminent Experts (CEEE) for Dispute Resolution of Ministry of Petroleum and Natural Gas, Govt of India(2023 & 2024). 

j) Member of National Financial Reporting Authority (2019- 2022) 

k) Member - SEBI Committee on Disclosures in Accounting (SCODA) and Quality Review Board of ICAI. 

Authorship:

Well respected in the community of professional accountants nationally and internationally, he had a keen interest in the dissemination of his expert knowledge. Understanding the need for such knowledge, especially amongst the student community in particular (was a teacher in the classes for students conducted at Prime Academy and in the ICAI Chennai) he set out to author 10 titles on professional accounting related topics ( including Ind AS Accounting Standards, Auditing Standards, Financial Reporting, etc. They were received well for their comprehensiveness and simplicity and garnered reprints too.

Speakership:

Speaker on the professional circuit in India, Middle East & South East Asia, on IFRS, Accounting Standards, Audit, Corporate Laws and Capital Market in various forums including Institute of Internal Auditors, Institute of Directors, NASSCOM, CII.

Awards:

1) National Award for contribution in Financial Reporting by Capital Foundation Society

2) One of 100 Most Influential CFO's of India by Chartered Institute of Management Accountants

3) Roll of Honour as one of Top 100 CFO's of India by CFO India consecutively for years.

Professional Activities- Independent Directorships

PRESENT DIRECTORSHIPS

Heritage Foods Limited,- Non-Executive, Independent Director

Geojit Financial Services Ltd - Non-Executive, Independent Director

LIC of India-  Independent Director, Chairman - Audit Committee

Sella India Software Services- Independent Director

PAST DIRECTORSHIPS

National Internet Exchange of India

XBRL India Limited

Thejo Engineering Ltd

Philanthrophy: An avid Rotarian and a Paul Harris Fellow of Rotary Foundation