Thursday, July 30, 2015

Revised Clause 49 of the Listing Agreement


The need for ethical governance was felt required after the recent events, particularly in the United States. The United States reacted to these events and enacted the Sarbanes Oxley Act, 2002 which brought out fundamental changes in Corporate Governance's every aspect. The revised clause 49 of the Listing Agreement has broadened the scope of Corporate Governance in India and provides for whistle blower policy, compliance report with the issue of certificate of compliance, widened definition of independent director, disclosure requirements etc.

The need was felt to amend the Listing Agreement in order to align the provisions of the Listing Agreement with the new Companies Act. Also, to strengthen the Corporate Governance framework for listed companies in India. This revised clause has broadened the scope of Corporate Governance in listed companies in India and should provide for a good governance framework.
This article aims to analyse the various heads discussed under Clause 49 of the Listing Agreement with special emphasis on the amended parts and to bring in a comparative analysis with the Companies Act, 2013.



Get Legal Updates on Corporate Laws from Corporate Law Reporter –the Daily Journal, by following the link below:

http://feedburner.google.com/fb/a/mailverify?uri=corporatelawreporter

Do remember to activate your subscription by clicking on the activation link received in your Email
© 2015 Corporate Law Reporter
544, Tower B-2, Spaze i-Tech Park,
Sector 49, Sohna Road, Gurgaon - 122018
--
Pl see my blogs;


Feel free -- and I request you -- to forward this newsletter to your lists and friends!

No comments:

Post a Comment