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Policy and regulations

Sebi’s cut-off for separate chairman and managing director is here. Are family-run businesses ready?

The market regulator wants India’s top 500 companies to separate chairman and managing director posts by April 1, 2020. While it feels companies have been given ample time to prepare, the industry says the new regulation is a let-down and the decision should be left to the shareholders.
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Lijee
17 Dec 2019 5 Mins Read 0 comment
Concept by Muhabit ul haq; photo by Getty Images
Concept by Muhabit ul haq; photo by Getty Images
By Lijee Philip and Kala Vijayraghavan As the year draws to a close, a contentious issue that has picked up volume in several corporate boardrooms is the regulatory imprimatur that seeks separation of power at the top. To ensure enhanced corporate-governance practices, market regulator Securities and Exchange Board of India (Sebi) has mandated a clear separation in the
due course of time. “For listed companies, Sebi can mandate additional regulations, which may not be a part of the Companies Act,” says Pranav Haldea, managing director of Prime Database. According to him, the real test shall be in its implementation and whether it is followed only in letter or in spirit. ( Graphics by Sadhana Saxena)
By Lijee Philip and Kala Vijayraghavan As the year draws to a close, a contentious issue that has picked up volume in several corporate boardrooms is the regulatory imprimatur that seeks separation of power at the top. To ensure enhanced corporate-governance practices, market regulator Securities and Exchange Board of India (Sebi) has mandated a clear separation in the due course of time. “For listed companies, Sebi can mandate additional regulations, which may not be a part of the Companies Act,” says Pranav Haldea, managing director of Prime Database. According to him, the real test shall be in its implementation and whether it is followed only in letter or in spirit. ( Graphics by Sadhana Saxena)

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