SEBI: Kotak Committee report on Corporate Governance

PR No. 60/2017

Securities and Exchange Board of India

Communications Division, SEBI Bhavan, Bandra Kurla Complex, Bandra (E), Mumbai- 400051

Tel: +91-22-26449000 email: press@sebi.gov.in/ website: www.sebi.gov.in

Submission of report of the Committee on Corporate Governance

SEBI formed a Committee on Corporate Governance in June 2017 under the Chairmanship of Mr. Uday Kotak with a view to enhancing the standards of corporate governance of listed entities in India. The committee consisted of officials from the government, industry, professional bodies, stock exchanges, academicians, lawyers, proxy advisors, etc. The committee was requested to submit its report within four months.

The terms of reference of the committee were to make recommendations to SEBI on the following issues:

• Ensuring independence in spirit of Independent Directors and their active participation in functioning of the company;
• Improving safeguards and disclosures pertaining to Related Party Transactions;
• Issues in accounting and auditing practices by listed companies;
• Improving effectiveness of Board Evaluation practices;
• Addressing issues faced by investors on voting and participation in general meetings;
• Disclosure and transparency related issues, if any;
• Any other matter, as the Committee deems fit pertaining to corporate governance in India.

The committee has submitted its report on October 5, 2017. A copy of the report can be found at the following link:

Link:  https://www.sebi.gov.in/reports/reports/oct-2017/report-of-the-committee-on-corporate-governance_36177.html

Comments are sought from the public on the aforesaid report in the following format:

Comments may be sent by email to Shri Pradeep Ramakrishnan, DGM at pradeepr@sebi.gov.in and Ms. Nila Khanolkar, AGM at nila@sebi.gov.in no later than November 4, 2017.

Mumbai
October 05, 2017