i. The Board of Directors meets at least four times a year, with a maximum difference of 120 days between two meetings. The minimum information to be provided to the Commission is contained in Appendix X of the rating agreement. Article 49 of the listing agreement applies to companies that wish to be listed on the stock market. This clause contains both binding and non-binding provisions. The main binding provisions are: the provisions relating to the establishment of the risk management committee apply to the top 100 listed companies after market capitalisation at the end of the previous financial year. Section 49 also applies to other listed companies that are not corporations, but entities or are subject to other laws (for example, banks. B, financial institutions, insurance, etc.). Term 49 applies to the extent that it is not contrary to its respective statutes and directives or directives of the relevant regulatory authorities. Sebi listed paragraph 49 of the Equity Listing Agreement (2000), which now serves as the standard for corporate governance in India, as an important measure for codifying corporate governance standards. Section 49 gave rise to the requirement that half of the directors of the board of directors of a publicly traded company be independent directors. In the same clause, SEBI had proposed the powers of the audit committee, which had to have a majority of independent directors.
Compliance – The company receives an annual certificate of activity from a legal auditor or a business secretary practising on compliance with clause 49 of the list agreement. As a result of this amendment, section 49 defined the principles of corporate governance. In addition, it expressly states that, if there is confusion, the provisions could be translated and linked to the principles set out below. The principles are as follows: Article 49 of the SEBI Corporate Governance Guidelines, adopted on 29 October 10, 2004, significantly changed the definition of independent directors, strengthened the powers of audit committees, improved the quality of financial reporting, including those relating to transactions with related persons, and revenue from public/rights/preferential issues that require boards of directors to adopt a formal code of conduct, to request confirmation of accounts by the CEO/CFO and improved publicity of accounts to shareholders. Some non-binding clauses, such as whistleblower policy and the limitation of the mandate of independent directors, were also included. [1] The term “clause 49” refers to clause 49 of the listing agreement between a company and the exchanges on which it is listed (the listing agreement is the same for all Indian exchanges, including the NSE and the BSE).
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