Mukesh Ambani, Sunil Mittal may lose job 'partially' due to new Sebi norms

Mukesh Ambani, Sunil Mittal may lose job 'partially' due to new Sebi norms

Courtesy : NJ TEAM23/07/2018 19:29

 The bigwigs Indian industrilists including Mukesh Ambani and Bharti Airtel's Sunil Mittal might lose a job. From the first day of financial year 2020, 291 firms including Reliance Industries, Infosys, TCS and Bharti Airtel will have to appoint a non-executive chairperson on their boards to comply with regulator Sebi's directive and most of these firms will need to split the roles of chairman and managing director for compliance. 

Under the new Sebi norms, the top 500 listed entities will have to ensure that the chairperson is a non-executive director from April 1, 2020. It will eventually lead to a split in the post of chairman and managing director.

These norms are part of the series of recommendations given by the Sebi-appointed Kotak committee on corporate governance.

 

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