The Security and Exchange Board of India (Sebi) has deferred the date by which the top 500-listed companies are required to comply with the regulation to separate the roles of chairperson and managing director (MD)/chief executive officer (CEO) from April 1, 2020, to April 1, 2022. The Sebi regulation requires that the non-executive chairperson and the CEO should not be related according to the definition of a relative in the Companies Act, 2013. It is explained that Sebi has taken the decision to defer the applicability of the regulation in view of the demand from companies and to keep the compliance burden low in the wake of the current economic scenario.
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First Published: Sun, January 19 2020. 22:54 IST