SEBI (Listing Obligations and Disclosure Requirements) Amendment Regulations, 2018

SEBI has notified the SEBI (LODR) Amendment Regulations, 2018 to amend the SEBI (LODR) Regulations, 2015 which, unless otherwise provided, shall come into force from April 1, 2019.

A number of recommendations of the Kotak Committee on Corporate Governance have been incorporated in the above Regulations.

The Amendment Regulations has amended, inter alia, definitions of ‘related party’, ‘independent director’; changes in board composition thereby introducing the concept of woman independent director; board committee regulations; increased the minimum number of directors on the board to six directors; emphasizes on gender diversity in the board along with disclosure of expertise/skills of directors; scope and eligibility criteria of independent directors; disclosures on board evaluation process etc.

May 15th, 2018