SEBI on 14.06.2023 notified the SEBI (LODR) (Second Amendment) Regulations, 2023. These amendments align with the consultation papers that SEBI previously released on a time-to-time basis. The amendments aim to strengthen corporate governance at listed entities by empowering shareholders, streamlining the disclosure requirements for material events or information and strengthening compliance. The amendment shall come into force from 14.06.2023.
The major amendment includes:
‣ Introduction of the concept of Non-permanency of the directors on the board
‣ Requirement of filling of vacancy of KMPs within three months of vacancy
‣ Introduction of threshold-based parameters for identifying the materiality of events/information
‣ Introduction of certain agreements to be disclosed
This article provides an in-depth analysis of key amendments and the potential impact.
