Well, if getting and keeping a JOB paying you 12-16 lacs pa is the issue, why will anybody keep shareholders or government interest ahead of one's own. Do you expect 30000 harishchandras here ?
1. The IDs should be appointed / recommended by the regulator and paid by the regulator. Fees to be collected from the company based on its turnover / share capital or investor base ( more directors / fees for higher stakes )
2. They should not be on board of more than one company
3. They should not be serving for more than 2 to 4 years in any one company.
What about business ethics ? interest of customers ?
( oh, business and ethics, are they contradictory terms ? )
