CMD role split: In relief for India Inc, Sebi may extend March 31 deadline

The development has come following hectic lobbying by corporate groups and industry bodies in the past two months

The Securities and Exchange Board of India (Sebi) is considering relaxing the March 31 deadline for listed companies to separate the positions of chairman and managing director (CMD). 

While the market regulator gave ample time to India Inc to adhere to the rule, not many corporate houses have complied with it. Many tycoons do not want to relinquish the position of chairman, who heads the board of directors. Instead, they want to give up the role of managing director, who manages the day-to-day affairs of the company.

“The government and the market regulator have started consultations and are reviewing the implementation of