Corporate governance reforms: Sebi may find it tough to act on Kotak panel recommendations

Currently, there is no Sebi rule on remuneration of independent directors in listed firms and companies adhere to norms laid down in Companies Act. The panel suggested that independent directors should be paid at least ₹ lakh a year for top 500 firms and the minimum sitting fees per board meeting for these directors should be ₹ 50,000 for the top 100 firms.