The Nagarjuna Finance case, after the Satyam saga, has put the role and liability of independent directors on the front burner. But the most alarming aspect of the whole case is that almost nobody wants to go on record to discuss it, discovers Sucheta Dalal

In June 1997, when asked about a move to have an age limit for corporate directors, Minoo R Shroff asked a newspaper, “Why should there...