The Satyam fraud may never have happened if there were women in the board of directors of the company, according to Fred Triem, barrister at law from Alaska, US.
The Satyam fraud may never have happened if there were women in the board of directors of the company, according to Fred Triem, barrister at law from Alaska, US.
“Women are more risk averse than men and opposed to any dealings involving illegality,” said Triem who was one of the speakers at the first international law seminar organised by the Gujarat National Law University (GNLU) on Saturday.
Triem, who specialises in corporate law, said more women were needed in the hierarchy of business enterprises.
GNLU vice-chancellor Bimal Patel, in his inaugural address, said that the university will establish a centre for international and family law to facilitate research and other legal assistance on issues of marriage, divorce, adoption and other enforcement of court awards. Patel said an inter-governmental organisation - the Hague conference on private international law based in the Netherlands - has expressed support for the project.
“Although there won’t be a physical infrastructure set up for these centres, faculty will be assigned to the same which will tie-up with various universities for four sectors, private and international family law, food and agro-economy law, corporate investment and sports law,” he said.
The seminar saw the presence of legal luminaries from the US, UK, Africa, Bangladesh, Italy and Slovenia who spoke on a range of issues from terrorism to the recession, global warming, corporate governance, refugees and piracy.
Dominika Svarc from the University of Ljubijana in Slovenia said that the main problem in tackling terrorism was the lack of a common interpretation of the existing law. “A common definition is an important step in the global fight against terror. Not all countries are parties to international conventions on laws to fight terror. All countries should ratify conventions for better cooperation.”
Prof Surya Subedi from the University of Leeds, UK spoke on the impact of the financial meltdown. He said the recession had occurred due to absence of international principles governing financial products sold by finance industry and absence of supervision from regulatory authorities.
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