Link to the class:
Recommendations accepted by SEBI without any modifications
• Reduction in the maximum number of listed entity directorships from 10 to 8 by April 01, 2019 and to 7 by April 1, 2020.
• Expanding the eligibility criteria for independent directors.
• Enhanced role of the Audit Committee, Nomination and Remuneration Committee and Risk Management Committee.
• Disclosure of utilization of funds from preferential issue.
• Disclosures of auditor credentials, audit fee, reasons for resignation of auditors, etc.
• Disclosure of expertise of directors.
• Enhanced disclosure of related party transactions (RPTs) and related parties to be permitted to vote against RPTs.
• Mandatory disclosure of consolidated quarterly results with effect from FY 2019-20.
• Enhanced obligations on the listed entities with respect to subsidiaries.
• Mandatory secretarial audit for the listed entities and their unlisted subsidiaries under SEBI LODR Regulations.