Sebi plans change in norms to trim promoters' sway on independent directors

Its proposed 'dual approval' system gives more powers to minority shareholders, without whose majority consent it will not be possible for companies to appoint or remove IDs

Samie Modak Business Standard Mumbai

Sebi says the current system gives undue advantage to promoters as they can have significant influence on appointment and removal by virtue of their shareholding

The Securities and Exchange Board of India (Sebi) on Monday proposed to overhaul norms pertaining to the appointment, removal and remuneration of independent directors, considered to be the flag-beare

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First Published: Mar 01 2021 | 7:37 PM IST

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