SEBI moves to empower independent directors - MMJC

In a bid to empower independent directors of listed companies, market regulator SEBI has overhauled rules relating to their appointment, removal, and remuneration aimed at giving more say to shareholders while reducing the influence of promoters.

Makarand Joshi, founding partner, MMJC and Associates LLP, said, “SEBI has given more teeth to independent directors since both NRC and Audit Committee will have two-third IDs in its constitution (instead of simple majority now). Now, India Inc may see aggressive shareholder activism inside and outside the boardroom.” SEBI also announced a slew of other decisions including permitting resident Indian fund managers to be constituents of foreign portfolio investors. It reduced the minimum investment level in listed infrastructure investment trusts (InViTs) and Real Estate Investment Trusts (REITS) to ₹10,000-15,000 from ₹50,000.

For more details – please follow the link

https://www.thehindubusinessline.com/markets/stock-markets/sebi-moves-to-empower-independent-directors/article35044704.ece