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TMI BlogSplit of position of Chairperson and Managing Directors in listed companiesX X X X Extracts X X X X X X X X Extracts X X X X ..... Split of position of Chairperson and Managing Directors in listed companies X X X X Extracts X X X X X X X X Extracts X X X X ..... elhi The Securities and Exchange Board of India (SEBI), based on the recommendations of Kotak Committee on Corporate Governance, has amended the SEBI (Listing Obligations and Disclosure Requirements) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Regulations, 2015 splitting the positions of the Chairperson and Managing Director, to start with, for top 500 listed companies on the basis of market capitalization effective from 01.04.2020. The f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... irst proviso to section 203(1) of Companies Act, 2013 provides that an individual shall not be appointed/reappointed as the chairperson of a company as well as its MD/CEO at the same time unless the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rticles of such company provide otherwise or the company does not undertake multiple businesses. The time-frame for implementation is to allow adequate transition time to companies to comply with the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... new requirement.
This was stated by Shri P.P. Chaudhary, Union Minister of State for Corporate Affairs in written reply to a question in Rajya Sabha today.
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DSM/RM/KMN X X X X Extracts X X X X X X X X Extracts X X X X ..... - PIB ..... X X X X Extracts X X X X X X X X Extracts X X X X
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