SEBI has already enacted certain protocols based on the circulars and notifications.Here is a glimpse into the future, based on the circulars and notifications already passed by SEBI.
Prepare to comply with the following direction of SEBI which will be effective in 2020:Phase wise implementation of Kotak Committee recommendation through SEBI LODR w.e.f 01 April 2020The following class of listed companies shall comply with additional corporate Governance requirements which will come into effect from 01 April 2020, emanating from Kotak Committee recommendations:CategoryTypes of Listed CompaniesNew RequirementIndependent DirectorTop 1000 listed entitiesThe Board shall have atleast one independent woman directorBoard CompositionTop 2000 listed entitiesBoard shall comprise of not less than six directorsQuorumTop 2000 listed entitiesQuorum for every Board meeting shall be:a.
3 directors, whichever is higher,including at least one independent director.Maximum number of directorshipAll Listed entitiesA person shall not be a director/ Independent director in more than 7 listed entitiesAnnual Business Responsibility Report – for top 1000 listed Cos in 2020The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2019 by making it mandatory for top 1,000 listed companies to prepare Annual Business Responsibility report, covering their activities related to environment and stakeholder relationship, on 26th December 2019.
It was mandatory only for top 500 listed entities to submit their Annual report.
This shall be complied on the annual reports submitted from 2020 onwards.Draft Placement memorandum of Units by Infrastructure Investment Trusts w.e.f 15 January 2020The Securities and Exchange Board of India vide Circular dated 24th December 2019 has issued guidelines for filing of draft placement memorandum of units by an InvIT and this Circular shall be effective from 15th January 2020.Asset management Company and Association of Mutual Funds to publish list of group companies w.e.f 1 January 2020SEBI circular dated 10th December 2019 has mandated that Asset management companies shall publish a list of their group companies and those of their sponsor on their respective websites.
The Above two disclosures on the website shall be made on 1st working day of each calendar quarter starting from January 1, 2020.Cut off time for collection of margins by commodities traders w.e.f.
SEBI has already enacted certain protocols based on the circulars and notifications.Here is a glimpse into the future, based on the circulars and notifications already passed by SEBI.
Prepare to comply with the following direction of SEBI which will be effective in 2020:Phase wise implementation of Kotak Committee recommendation through SEBI LODR w.e.f 01 April 2020The following class of listed companies shall comply with additional corporate Governance requirements which will come into effect from 01 April 2020, emanating from Kotak Committee recommendations:CategoryTypes of Listed CompaniesNew RequirementIndependent DirectorTop 1000 listed entitiesThe Board shall have atleast one independent woman directorBoard CompositionTop 2000 listed entitiesBoard shall comprise of not less than six directorsQuorumTop 2000 listed entitiesQuorum for every Board meeting shall be:a.
3 directors, whichever is higher,including at least one independent director.Maximum number of directorshipAll Listed entitiesA person shall not be a director/ Independent director in more than 7 listed entitiesAnnual Business Responsibility Report – for top 1000 listed Cos in 2020The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2019 by making it mandatory for top 1,000 listed companies to prepare Annual Business Responsibility report, covering their activities related to environment and stakeholder relationship, on 26th December 2019.
It was mandatory only for top 500 listed entities to submit their Annual report.
This shall be complied on the annual reports submitted from 2020 onwards.Draft Placement memorandum of Units by Infrastructure Investment Trusts w.e.f 15 January 2020The Securities and Exchange Board of India vide Circular dated 24th December 2019 has issued guidelines for filing of draft placement memorandum of units by an InvIT and this Circular shall be effective from 15th January 2020.Asset management Company and Association of Mutual Funds to publish list of group companies w.e.f 1 January 2020SEBI circular dated 10th December 2019 has mandated that Asset management companies shall publish a list of their group companies and those of their sponsor on their respective websites.
The Above two disclosures on the website shall be made on 1st working day of each calendar quarter starting from January 1, 2020.Cut off time for collection of margins by commodities traders w.e.f.