Sebi working on revised listing agreement norms

To promote good business practices, capital market watchdog Sebi is working on revised listing

RELATED ARTICLES

agreement norms that would include enhanced corporate governance provisions.

The board of Securities and Exchange Board of India (Sebi), in February this year, had approved new corporate governance norms that require companies to justify CEO salaries, put in place whistle-blower policies and have orderly succession plans.

Sebi's Whole Time Member Prashant Saran today said the regulator is working on revised listing agreement for companies.

Noting that it is a detailed process, he said it was difficult to give a time line.

According to him, Sebi keeps on evolving guidelines and policy measures to put in place norms for better corporate governance.

He was participating at a conference organised by PHD Chamber of Commerce and Industry.

Under the new corporate governance norms, to be effective from October 1, listed companies require greater oversight of and by independent directors, greater checks on all related party transactions involving promoters and directors and limits on directorships and remuneration of board members.

Among others, the new norms, finalised after detailed consultations over draft regulations released in January 2013, seek to exclude 'nominee directors' from the definition of independent directors.

Other proposals include compulsory whistle blower mechanism, expanded role of audit committee, prohibition of stock options to independent directors and enhanced disclosure of remuneration policies.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • This is right time for retail investors to enter the debt market

    Quite often, retail investors are ridiculed for entering the equities market in droves, signalling the first signs of a bubble on the Street.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Cost of education must be controlled

In India, we pay very little attention to the cost ...

Zehra Naqvi

What imperfections in nature teach man

Each one of us has faced a time when we ...

Dharmendra Khandal

A wondrous world under the ground

Burrows and dens are safe homes for many kinds of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture