Uday Kotak to head new Sebi corporate governance panel
The 21-member panel headed by Uday Kotak will advise Sebi on issues relating to corporate governance in Indian firms
Mumbai: The Securities and Exchange Board of India (Sebi) on Friday said it has set up a committee under the chairmanship of Uday Kotak, executive vice chairman and managing director of Kotak Mahindra Bank Ltd, to advise it on issues relating to corporate governance in Indian firms.
The 21-member panel includes representatives from other companies, stock exchanges, professional bodies, investor groups, law firms, academicians, research professionals and Sebi officials.
Sebi said the committee will advise the markets regulator on areas such as ensuring the active participation of independent directors in the functioning of companies; improving safeguards and disclosures pertaining to related-party transactions; issues in accounting and auditing practices by listed firms; improving effectiveness of board evaluation practices; addressing issues faced by investors on voting and participation in general meetings; and disclosure- and transparency-related issues.
Sebi has asked the committee to try and submit its recommendation report within four months.