Calcutta HC: Cannot Deny Electricity Solely on Ground of Not Furnishing Ownership  ||  Madras HC: Cannot Hold Protests at Whim and Fancies  ||  Bombay HC: March of Development in Mumbai Cannot Trample Heritage Structures  ||  P&H HC: Seriousness of Offence of Drug Trafficking Can’t Trample Constitutional Safeguards  ||  Bombay HC: Cannot Deny ‘Right to Life’ to Accused who is in Custody  ||  Ker HC: Action Must be Taken against Private Nursing Colleges Not Paying Teachers as per Regulations  ||  Kerala HC: Can Make IRCTC Responsible for Managing Waste in Railway Stations  ||  J&K HC: Magistrate Can Revoke Orders or Drop Proceedings if No Case is Made Out  ||  Kerala HC Directs Placing of Draft Guidelines for Dealing With Snake Bites in Schools  ||  J&K HC: Cannot Equate Irregular Appointments with Illegal Appointments    

Split of position of Chairperson and Managing Directors in listed companies- (Press Information Bureau) (24 Jul 2018)

MANU/PIBU/1104/2018

Capital Market

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) 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 first 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 articles 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 new requirement.

Tags : SPLIT   POSITION   CHAIRPERSON   MANAGING DIRECTORS  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved