India Business News: MUMBAI: With the definition of a promoter undergoing a change as a large number of private equity and venture fund-led companies are getting listed on.
Sebi tightens norms on independent directors
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Last Updated: Jun 30, 2021, 06:49 AM IST
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Synopsis
According to Sebi, among other qualifications, an independent director is a person who is not a promoter or a relative of the promoter of the company, its holding, subsidiary or an associate company.
Reuters
Sebi further said that if an independent director resigns from the board, the company should disclose to the exchanges the full content of the letter of resignation of that director.
Related
Mumbai: In an attempt to give more power to non-promoting shareholders in a company, markets regulator Sebi on Tuesday said that two-thirds of the members of the nomination & remuneration committee (NRC) and the audit committee (AC) of the board of a listed company should be independent directors. Currently, rules say that a majority of the members of these two important committees of the board should be independent directors.
Sebi approves major changes to tighten independent director norms from January 1 indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
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In Brief
Thursday, 06 May 2021 22:32 Capital Markets
“Prabhat Dairy [was] delisted from BSE and NSE on April 30, while trading in its equity shares will be discontinued from April 23, the exchanges said. This comes after the company complied with the formalities for voluntary delisting of equity shares.”, reported Business Standard.
J Sagar Associates represented and acted for
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