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

The corporate affairs ministry has opposed half of the corporate governance reforms suggested by the Uday Kotak-led Sebi panel

Anirudh Laskar, Jayshree P. Upadhyay
Updated9 Oct 2017, 11:54 AM IST
An independent survey found that implementing the corporate governance reforms suggested by Uday Kotak-led Sebi panel will require many companies to overhaul their boards. Photo: Aniruddha Chowdhury/Mint
An independent survey found that implementing the corporate governance reforms suggested by Uday Kotak-led Sebi panel will require many companies to overhaul their boards. Photo: Aniruddha Chowdhury/Mint(Aniruddha Chowdhury/Mint)

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.

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First Published:9 Oct 2017, 01:49 AM IST
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