Corporate Governance in listed Companies – Clause 49 of the Listing Agreement

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..... October 23, 2008 The Managing Director/Executive Director/Administrator of all the Stock Exchanges Dear Sir/Madam, Sub: Corporate Governance in listed Companies Clause 49 of the Listing Agreement I. SEBI vide circular SEBI/CFD/DIL/CG/1/2008/08/04 dated April 08, 2008 amended Clause 49 of the Equity Listing Agreement inter-alia including a provision stating that if the non-ex .....

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..... rs other than the independent directors, its employees or its nominees shall be deemed to be related to it; b. If the promoter is an unlisted entity, its directors, its employees or its nominees shall be deemed to be related to it. II. Applicability: The aforesaid amendments in Clause 49 of Equity Listing Agreement shall be implemented as per the schedule of implementation give .....

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..... in exercise of powers conferred by sub-section (1) of Section 11, read with sub-section (2) of Section 11A, of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. IV. This circular is available on the SEBI website at www.sebi.gov.in. Yours faithfully, Parag .....

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