Sebi blinks, gives India Inc two more years to split CMD position

Move follows hectic lobbying by industry groups

The Securities and Exchange Board of India (Sebi) has given India Inc another two years to separate the positions of chairman and managing director (MD) in companies, giving a breather to many top guns of industry. The move follows resistance by big companies and industry bodies, which cited a compliance burden amid a downturn in the economy. The regulator had mandated the top 500 listed companies by market value to separate the chairman and MD posts by April 1 this year.

Through a gazette notification dated January 10, the date of compliance has been postponed to April 2022. Sebi hasn’t given