SEBI amends Cl 49 Impacting Corporate Governance Norms for Listed (Equity) Entitites

Some of the key highlights are as follows:

1] Appointment of Woman Director made applicable effective 1st April, 2015

2] Maximum tenure of Independent Directors to be in accordance with Companies Act, 2013

3] Need for Familiarisation Programme for Independent Directors

4] Chairperson of the Company can become member of the Nomination and Remuneration Committee but shall not chair the same

5] Condition on disposal of shares by a Company to its material subsidiary

6] Constitution of Risk Management Committee

7] Amendments in Related Party Transaction clause

 

The circular may be read by clicking on the following link

http://www.sebi.gov.in/cms/sebi_data/attachdocs/1410777212906.pdf