SEBI extends the timeframe for filling important management positions

SEBI extends the timeframe for filling important management positions

Sebi said that a three-year sunset provision is also being adopted to remove the application of market capitalization-based restrictions, which would simplify compliance obligations.

It is SEBI's intention to make it easier for listed businesses to do business by delaying the hiring of key executive people.

To make it easier for listed businesses to do business, the Securities and Exchange Board of India (SEBI) has extended the period from three months to six months for the statutory authorities to approve the hiring of key management staff. has contributed.

In an effort to make it easier for listed businesses to do business, the Board also approved changes to the SEBI (Listing Obligations as well as Disclosure Requirements) Regulations, 2015 on March 15. Market currency-based compliance requirements for listed firms, according to the SEC, should be based on average market capitalization over the six months that finish on December 31 rather of the market capitalization of a single day (March 31).

In an effort to make compliance requirements easier, SEBI has also included a three-year sunset clause that would remove the application of market capitalization-based restrictions.

Additionally, the regulator has shortened the pre-board meeting notification period to two working days.

Additionally, SEBI raised the maximum amount of time that may pass between two consecutive sessions of the Risk Management Committee from 180 days to 210 days. According to the regulator, this will provide listed businesses more freedom when it comes to meeting scheduling.