Sebi is likely to finalise the new corporate governance norms for listed companies once the government completes notification of all the sections of the Companies Act
GN Bureau | October 18, 2013
Following the passage of the new Companies Act, the securities and exchange board of India (Sebi) is looking to incorporate its provisions in the Sebi Act so as to enhance the corporate governance practices in listed companies.
According to a report in Business Standard, the markets watchdog is planning to bring in a new regulation including various guidelines of the Companies Act on appointment of independent directors, related party transactions, class action suits, corporate social responsibility (CSR) spending, etc.
With various cases of frauds, illegal collective investment schemes, etc coming to light, the markets watchdog has been working towards enhancing corporate governance practices in listed companies.
Earlier in January, Sebi had released a consultative paper to review the existing rules related to corporate governance in the country. However, decision is yet to be taken on the proposals, which the regulator is likely to announce only after the government completes notification of all the sections of the Companies Act.
Some of the proposals of the discussion paper include mandatory auditor rotation, giving power to minority shareholders to appoint at least one independent director on a company’s board, and seeking shareholders’ approval for undertaking related party transactions.
From Dependence to Self-Reliance: Mapping India’s Rise as a Global Superpower By Bimal Jalan Rupa Publications, 184 pages, Rs 695 Bimal Jalan, a former governor of the Reserve Bank of India (RBI), has been one of our finest commentators on econom
While many countries have been chasing to reach the carbon neutral status, only a few seem to be living up to their pledges as of now. The famous ’Paris Agreement’ of 2015 was glorified and celebrated that finally 196 countries have united with an intent to mitigate and reduce the greenhouse ga
The government this week announced the Tour of Duty or `Agnipath` scheme for the recruitment of soldiers in the armed forces. Under this scheme new soldiers will be recruited only for four years. This radical and far-reaching scheme has attracted mixed reactions from various quarters. While some officials
UPI has become an integral part of our daily lives now. We use it to buy groceries, we use it to send money to friends and family, we use it to purchase tickets, book shows, pay the cab driver, and a whole host of other things due to the ease and availability of such a platform at our fingertips. The best
Scorching Love: Letters from Mohandas Karamchand Gandhi to his son, Devadas By Gopalkrishna Gandhi and Tridip Suhrud Oxford University Press, 528 page, Rs 1495 Gandhi’s era happened to be an era when letter-writing was a primary mode of communica
Crediting the citizens of Mumbai for coming forward to help the police in combating the crisis situation due to Covid-19, Mumbai police commissioner Sanjay Pandey has said that Mumbai Police lost quite a few policemen during the pandemic but cumulative efforts, with citizens working hand in hand with the p