Corporate misgovernance in India

NSE has blotted its record even with separate chairman and managing director roles

The regulatory time deadline set by the Securities and Exchange Board of India (Sebi) by when listed companies needed to appoint two unrelated persons to the positions of chairperson and managing director (MD) was April 1, 2022. Indian print media has reported that about 150 large-cap companies such as Reliance Industries, Adani Ports and Bajaj Finserv would have needed to split the positions of chairman and MD to comply with this regulatory requirement. Conveniently for companies with the same person serving as chairman and MD, on February 15, 2022, Sebi dropped this requirement for listed companies to have two unrelated