Interplay Of Board Dynamics And Independent Directors In Fostering Cyber Resilience

Ms. Debalina Roy, BA LLB (Hons.), Xavier Law School, XIM University

ABSTRACT

In the ever-expanding realm of technology, companies are posed with the herculean task of fortifying their cybersecurity and withstanding cyber threats. This article delves into the role of the Board of Directors of a company in addressing cybersecurity threats, emphasising the need for the active participation of directors in understanding and mitigating cyber threats. Derived from the provisions and framework delineated in the Companies Act 2013, independent directors are entrusted with the responsibility of ensuring effective management and oversight of the cybersecurity policy of a company. The article elucidates the pivotal role of independent directors in enhancing the cybersecurity of the company through effective corporate governance.

Furthermore, the article elaborates on the NIST Cybersecurity Framework, which provides a structured approach to managing cybersecurity and serves as a guiding principle for companies globally, and recommends its implementation by Indian companies. The author has identified the potential challenges faced by independent directors in effectively managing cybersecurity and has put forward probable solutions to mitigate these challenges while giving eminence to compliance with regulatory frameworks, transparency, and accountability. The author infers that a resilient defence against cybersecurity threats and a sound cybersecurity culture within a company depict a resolute commitment to good corporate governance.

Keywords: independent directors, cybersecurity, board of directors, corporate governance, cyber resilience