Effect of Kotak committee recommendations as accepted by SEBI in its Board Meeting today..
1. Maximum no.of directorship in listed companies has been reduced
from 10 to 8 by April 1, 2019 & reduced to 7 by April 1, 2020.
2. Eligibility criteria for independent directors has been expanded.
3. Role of the Audit Committee, Nomination and Remuneration
committee and Risk Management Committee has been enhanced.
4. Minimum 6 directors in the top 1000 listed entities by market
capitalization by April 1, 2019 & top 2000 companies by April 1, 2020.
In view stricter norms prescribed by SEBI, there is going to be acute shortage of good quality directors / independent directors having adequate experience in their respective profession coupled with higher standards of professional ethics, in the Indian corporate world in the coming days.
Are you prepared and willing to manage tough issues in the Boardroom.?
Are you prepared and willing to shoulder the responsibility and accountability as a member of the Board...?