Beruflich Dokumente
Kultur Dokumente
GOVERNANCE
By Gaurav Asthana
What Is CG
• India, after the economic initiatives in1991,
the Govt. thought it fit to respond to the
developments taking placing the world over and
accordingly the initiatives recommended by
Cadbury Committee Report got prominence.
• Confederation of Indian Industry (CII), the
Associated Chambers of Commerce and Industry
(ASSOCHAM) and, the Securities and Exchange
Board of India (SEBI) constituted committees to
recommend initiatives in Corporate Governance.
India CG
Code Securities and Exchange Board Circular Sub: Corporate Governance in
listed entities – Amendments to Clauses 35B and 49 of the Equity Listing
Agreement (2004, most recently revised April 2014; Clause 49 to be
effective October 1, 2014)
Issuing Securities and Exchange Board of India (“SEBI”)
Body
Legal Basis Mandatory with certain exceptions as to certain recommendations
and
Complianc
e
Objectives Make corporate governance framework more effective
Scope Listed companies with certain exceptions
Predominant Board Structure (listed companies): Unitary
Corporate Governance Guidelines
• There shall be a separate section on Corporate
Governance in the Annual Reports of company, with a
detailed compliance report on Corporate Governance.
Non-compliance of any mandatory requirement of this
clause with reasons thereof and the extent to which
the non-mandatory requirements have been adopted
should be specifically highlighted. The suggested list of
items to be included in this report is given in Annexure
- XII to the Listing Agreement and list of non-
mandatory requirements is given in Annexure - XIII to
the Listing Agreement. (§ 49.X.A)