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50 pc of board must comprise non-executive directors: SEBI.
(From Business Line)
Mumbai, Oct. 29 - THE Securities and Exchange Board of India has now specified that not less than 50 per cent of the board of directors should consist of non-executive directors. If the chairman of the board is a non-executive director, at least one-third of the board should consist of independent directors and in case he is an executive director, at least half of the board should comprise independent directors.
These are changes effected in Clause 49 of the Listing Agreement, suggested by the N.R. Narayana Murthy Committee on corporate governance. The revised clause has taken into account the suggestion received after the draft …
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