Sebi will announce corp governance norms soon
13 Jan 2014 4:11 AM IST
Capital markets regulator Securities and Exchange Board of India (Sebi) said on Saturday that it will soon come out with a detailed framework on corporate governance structure, which might also include the number of directorships a person can hold as an independent director.
At its next board meeting, Sebi will take up a proposal of new corporate governance norms for approval and after the board’s nod, it will come out with detailed guidelines, Sinha said here on the sidelines of an ANMI function. The new corporate governance model deals with CEO salaries, succession planning and whistle-blower policy at listed companies. Sebi, which has put out a discussion paper in January 2013, has been waiting for the Companies Bill to get passed. It was finally passed in late last year and the new Act is now being implemented.
‘...Hopefully very soon in our next meeting of the Sebi’s board, we will be taking up the proposal (about corporate governance structure) for the approval. Once we will get approval, details of the proposals will be announced,’ Sinha said.
At its next board meeting, Sebi will take up a proposal of new corporate governance norms for approval and after the board’s nod, it will come out with detailed guidelines, Sinha said here on the sidelines of an ANMI function. The new corporate governance model deals with CEO salaries, succession planning and whistle-blower policy at listed companies. Sebi, which has put out a discussion paper in January 2013, has been waiting for the Companies Bill to get passed. It was finally passed in late last year and the new Act is now being implemented.
‘...Hopefully very soon in our next meeting of the Sebi’s board, we will be taking up the proposal (about corporate governance structure) for the approval. Once we will get approval, details of the proposals will be announced,’ Sinha said.
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