Independent Directors Program

About the Program

Independent Directors occupy a critical position in the corporate governance architecture. They are expected to bring independence of judgement, constructive challenge, strategic perspective, ethical oversight and protection of stakeholder interests to the boardroom. The Ministry of Corporate Affairs framework and the Independent Directors Databank have further professionalised this role by requiring eligible individuals to undergo registration and, where applicable, complete the Independent Director Online Proficiency Self-Assessment Test.

This six-day programme is designed as a rigorous 36-hour learning intervention for aspiring and serving independent directors. The programme goes beyond statutory knowledge and addresses the behavioural, strategic and ethical dimensions of being an effective independent director. The programme will cover Companies Act, 2013 provisions, duties and liabilities of directors, board committees, SEBI LODR requirements, financial analysis, audit oversight, related-party transactions, risk management, ESG, stakeholder governance, self awareness  and boardroom behaviour, dissent, conflict management, crisis response and strategic oversight.

The programme will use lectures, case discussions, MCQs, boardroom simulations, governance failure analysis and mock proficiency tests to help participants develop both regulatory readiness and real boardroom judgement.

 

Pedagogy

The programme will use an applied and participant-centric pedagogy combining:

  1. Concept lectures for statutory and regulatory foundations.
  2. Case discussions based on Indian and global corporate governance failures.
  3. Boardroom simulations to practise judgement, dissent, escalation and committee-level decision-making.
  4. Behavioural exercises on groupthink, bias, independence, authority pressure and constructive challenge.
  5. Personal board-readiness plan to help participants prepare for real independent director roles.

Objectives

At the end of the programme, participants should be able to:

  1. Understand the corporate governance role of independent directors
  2. Evaluate board and committee functioning for effective oversight
  3. Build behavioural capability with self-awareness challenge management constructively and preserve independence of judgement.
  4. Demonstrate strategic oversight capability as independent directors

Day 1: Corporate Governance Architecture and the Independent Director Role

Theme: Role clarity, legal foundation and MCA examination orientation

 

Time

Session

Topics

9.00 am - 9.30 am

Inaugural Session

09:30 am–11:00 am

1

Corporate Governance in India

11:30 am –1:00 pm

2

Independent Director Framework

11:45 am–1:00 pm

3

 Companies Act, 2013 – Board Provisions

2.00 pm– 3.30 pm

4

 Duties, Rights and Liabilities of Directors

 

Day 2: Board Committees, SEBI LODR and Governance Processes

Theme: How boards actually function

Time

Session

 

09:30 am–11:00 am

1

Board Committees

11:30 am–1:00 pm

2

Audit Committee Deep Dive

11:45 am–13:00 pm

3

SEBI LODR Essentials

14:00 pm–15:15 pm

4

Board Evaluation, Remuneration and Succession

 

Day 3: Understanding Finance, Audit Oversight and Red Flags

Theme: What every independent director must know about numbers

Time

Session

Coverage

09:30–11:00am

1

Financial Statements for Directors

11.30-1:00pm

2

Board-Level Financial Questions

2.00- 3.30pm

3

Audit Reports and Internal Controls

4:00–5:30pm

4

Governance Red Flags  and Financial Governance Failure

 

Day 4: Behavioural Effectiveness

Theme: From compliance director to value-adding board member

Time

Session

Coverage

9:30 am–11:00 am

1

Self awareness, Behavioural Insights

11:30 am – 1.00 pm

2

Exploring Self through TA

2:00 pm–3:30 pm

3

Behavioural Dynamism of Board

4:00 pm–5:30 pm

4

Ethics and Self Evaluation

 

Day 5: Risk, Compliance, ESG and Stakeholder Governance

Theme: Independent director as guardian of long-term trust

Time

Session

Coverage

09:30 am–11:00 am

1

Enterprise Risk Management

11:30 am –1:00 pm

2

Compliance Oversight

2.00 pm-3.30 pm

3

Conflict of Interest

4:00 pm–5:30 pm

4

ESG, CSR and Stakeholder Governance

 

Day 6:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   

Strategic Role of Independent Directors and Board Readiness Plan

Theme: Independent Directors as Board Stewards and Strategic Leaders

Time

Session

Coverage

09:30 am–11:00 am

1

Strategic Oversight

11:30 am–1:00 pm

2

Strategic Leadership

2:00 pm–3:30 pm

3

Board Readiness Plan

4:00 pm–5:30 pm

4

Valedictory and Feedback

 

Target Participants

The programme is suitable for:

  1. Aspiring independent directors seeking readiness for the MCA / IICA Independent Director Online Proficiency Self-Assessment Test.
  2. Serving independent directors who want to strengthen boardroom effectiveness.
  3. Senior executives preparing for board roles.
  4. Chartered accountants, company secretaries, cost accountants, lawyers and governance professionals.
  5. Retired civil servants, public sector executives and regulatory professionals interested in board roles.
  6. CXOs, entrepreneurs and family business professionals transitioning into non-executive director roles.
  7. Faculty members and consultants working in corporate governance, strategy, finance, risk or law.

1. Registration fees include the following:

For all the participants:

  • Classroom sessions
  • Reading material
  • Registration kit
  • Internet and Library access
  • Hard Copy Certificate for Course Completion at the end of the programme

Residential participants:

  • Single occupancy AC rooms in the MDP hostel
    Check-in and check-out time: The earliest check-in time 3.00 pm (one day before program commencement
    The latest checkout time is 10.00 am (one day after program completion)
  • Tea, breakfast, Lunch, dinner in working hrs.

Non Residential participants:

  • Breakfast, Working Lunch, tea & snacks

Registration Terms & Conditions:

A.Upon payment of program fees registrations are tentatively confirmed. The final confirmation on the commencement of the program shall be communicated latest 2 weeks before (offline program) & 1 week before (online program) for the scheduled start date of the program.

B.Refund policy

Fees once paid can be adjusted up to 1 financial year against future nominations only. In case a course is canceled on account of inadequate participation or any other unforeseeable reasons, the participants will be informed of the cancellation by e-mail or Fax and the fee will be refunded. IIM Mumbai will not be liable for any other expenses incurred by the company or the participant. Any transaction fee will not be refunded.

C. IIM Mumbai is not responsible for any other expenses borne by the participants due to rescheduling/cancellation of its MDPs

2. Individual Registration

If you wish to register & make payment, please click here Register

3. Company-sponsored / Bulk Registration:

    • In the case of company-sponsored candidates, please share the nomination list and GST details to program@iimmumbai.ac.in for invoice generation.

      Download the INVOICE DETAILS FORM

    • Note: Discount is applicable for 5 or more participants from same organization against invoice.

Course Details

Mode Offline / IIM Mumbai Campus
Duration 36Hrs.
Programme Dates Jan 11, 2027 to Jan 16, 2027
Program Coordinators Prof. Nikhil K Mehta, Prof. Poonam Singh

Download Brochure

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