LAKSHMI IYERFCS · Advocate

Independent Director · Chennai

LakshmiIyer

Twenty-five years inside the machinery of listed boards: the notice, the quorum, the related-party approval, and the minute that still has to hold up years later.

  • Advocate and Company Secretary (FCS)
  • Independent Director, one listed SME-platform company
  • DIN allotted
Leadership photographChennai

Dissent that never reaches the minutes was never dissent. A board is only as good as the record of how it decided.

Lakshmi IyerOn twenty-five years of board process

Biography

I learnt how boards work from the minute book up.

I have spent a working life in the rooms where boards meet, usually at the far end of the table with the minute book open and the agenda I had drafted in front of every director.

I began in 2001 in the corporate and securities practice of a Chennai law firm, drafting listing documents and takeover filings at a time when many Indian boards still thought of compliance as the auditors' business. It taught me to read a transaction the way a regulator would read it later.

In 2006 I moved to Coimbatore as Company Secretary and Compliance Officer of a listed textiles company, and stayed eleven years. I prepared every agenda, sat through every board and committee meeting, wrote every minute and answered every shareholder who wrote in. That is where I learnt which disclosures invite a question, which related-party approvals need a second look, and how a careful minute protects a director long after the meeting has ended.

Since 2017 I have run my own corporate-law and secretarial practice in Chennai, advising promoter-led companies on board processes, SME-platform listings, schemes of arrangement and insider-trading controls, and appearing before the Chennai Bench of the National Company Law Tribunal. In 2021 I took the other chair, joining a listed SME-platform company as an Independent Director. I am now looking for one or two further boards where process discipline and shareholder trust are the work.

Based in
Alwarpet, Chennai
Practice
Corporate law, securities regulation and board processes
In practice since
2001
Languages
English, Tamil, Hindi
Seeking
One or two further boards, listed or large unlisted public companies

Three defining moments

Three moments that shaped how I sit at a board table.

2009 · Coimbatore

Opening the register nobody wanted to open.

The company carried years of pending share transfers and transmissions, many from the families of its original shareholders. I worked through every folio with the registrar, wrote to each holder, and put a closure report before the investor grievance committee every quarter until the list was empty.

2014 · Coimbatore

An amalgamation that survived its objection.

When the board merged its spinning subsidiary into the parent, a minority shareholder objected at the sanction hearing. The minutes showed the valuation debated, one director's reservation recorded and answered, and the valuer questioned. The scheme was sanctioned, and I have written every minute since as if it will be read in court.

2021 · Chennai

Taking the other chair.

After two decades of writing the minutes, I joined the board of a listed SME-platform company in precision engineering, on its Audit and Stakeholders Relationship Committees. My first proposal was a quarterly tracker of investor complaints and their closure. It is now a standing agenda item.

What I bring to a board

Three things a chair can rely on.

  1. First

    Minutes that will still stand in ten years.

    Evidence

    Eleven years as Company Secretary of a listed company, writing every agenda and minute for its board and committees to the Secretarial Standards, and a scheme of amalgamation sanctioned over a shareholder objection because the record held.

  2. Second

    A second reading of every related-party transaction.

    Evidence

    A practice built on s.188 of the Companies Act and Regulation 23 of SEBI LODR. On my current Audit Committee I read each omnibus approval against the policy before it reaches the vote.

  3. Third

    Minority shareholders who feel answered.

    Evidence

    Eleven years of investor-grievance redressal, including SEBI SCORES complaints and registrar oversight, and the complaints-closure tracker I introduced to my current board.

Board readiness

The facts, for the nomination committee's file.

Primary committees

Stakeholders Relationship

Companies Act 2013 s.178(5) · SEBI LODR Reg 20

Eleven years running investor-grievance redressal for a listed company, from SCORES complaints to the annual review of registrar performance. A member of this committee today.

Audit

Companies Act 2013 s.177 · SEBI LODR Reg 18

A sitting Audit Committee member on a listed board, with a practice built on related-party transactions under s.188 and Reg 23.

Supporting committee

Nomination and Remuneration

Companies Act 2013 s.178 · SEBI LODR Reg 19

Has drafted board-evaluation frameworks, remuneration policies and succession notes for client companies and taken them through NRC and board approval.

On record

DIN
Allotted
IICA Independent Directors Databank
Registered
Online proficiency self-assessment test
Passed
Independence
Meets the criteria under Companies Act 2013 s.149(6). Practice clients are screened for any pecuniary relationship before a nomination proceeds.
Current board
Independent Director of one listed SME-platform company, with capacity for two more.

Education & credentials

  • Fellow, Institute of Company Secretaries of India
  • Advocate, Bar Council of Tamil Nadu and Puducherry
  • LL.B., Chennai
  • B.Com., Chennai
  • Registered in the IICA Independent Directors Databank
  • Passed the online proficiency self-assessment test

Contact

For nomination committees, chairs and search firms.

If your board needs a member who reads the related-party note before the meeting and the draft minutes after it, I would be glad to hear from you. I reply within two working days and can share a board profile and references on request.

Email
lakshmi@lakshmiiyer.in
Office
Alwarpet, Chennai 600018