The amendments have been made after representations from entities requested Sebi to bring about further clarity on the amendment (made on April 8 ) where the promoter of a listed company is a listed or an unlisted entity. A Sebi release said, “If the promoter is a listed entity, its directors —other than the independent directors, its employees, or its nominees — shall be deemed to be related to it.” But, “if the promoter is an unlisted entity, its directors, employees or nominees shall be deemed to be related to it.”
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We need latest Clause 49 of Listing agreements.