Ketan Dalal

KETAN DALAL is a Fellow Member of the Institute of Chartered Accountants of India, He has extensive experience on cross border tax issues and investment structuring, including mergers and acquisitions. He was the Tax Leader and the Managing Partner (West) and a member of the India Leadership Team with PwC. Having left from PwC earlier this year, he is now pursuing his independent professional interests and runs a boutique, Structuring and Tax firm, Katalyst Advisors LLP. KETAN DALAL is currently on Boards of HDFC Life, Zensar, Ambit Capital and UTI as a director.

Our Exclusive Interview:

Do you think there is a change in how Boards in India are run in the last 5 years?

Yes; most certainly, but not across the board; small and mid-sized companies (and also large private companies) are yet to travel a long distance.

What should one do on realization that Company management is not paying attention to Board advice?

If this attitude on part of the management is consistent and unjustified (without any adequate rebutting explanation), then a resignation from such a Board would be advisable.

What are your views about Board evaluation?

Still nascent and tentative; Boards seem hesitant to take calls on non-contributing directors.

How does gender diversity at Board help?

All kinds of diversity helps; gender diversity is overall very useful, and even more so, if a woman on the Board has experience of that industry.

Which Board run companies do you admire globally and in India?

HDFC Group is one such example.

What would you advise professionals who intend to be Board Members in future?

My advice to professionals who intend to be Board Members in the future is as below:

  1. Be careful as to why you have been invited to a Board and what is expected of you;
  2. Quality of the Management Team;
  3. Quality of Governance;
  4. Exposure of the company to the Government; a larger exposure is a warning sign.
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