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NISM, BSE and ICSI-WIRC Joint Symposium on

“Impact of Recent Amendments and Challenges in SEBI LODR”

July 3, 2018 | BSE International Convention Hall, Mumbai

 

The School for Corporate Governance (SCG) of the National Institute of Securities Markets (NISM) along with Bombay Stock Exchange (BSE Ltd) and the Institute of Company Secretaries of India – Western India Regional Council (ICSI-WIRC) had conducted a Joint Symposium on “Impact of Recent Amendments and Challenges in the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015” at BSE International Convention Hall, Mumbai.

 

The Securities Market Regulator-SEBI had set up a Committee on Corporate Governance (Uday Kotak Committee) in the year 2017 for enhancing the standards of corporate governance in India. Based on the recommendations of the Committee, SEBI has fine-tuned the corporate governance framework by amending the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

 

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In this background, NISM, BSE and ICSI-WIRC had jointly organized the Symposium to discuss and deliberate on the impact of these amendments on the Board functioning of the listed companies and the way forward.

 

Shri Amit Kumar Jain, Chairman, ICSI-WIRC welcomed the dignitaries and participants to the Symposium and requested the participants to take benefits out of the deliberations.

 

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Shri Ashish Kumar Chouhan, Managing Director and Chief Executive Officer, BSE Ltd, addressed the participants and dwelt upon evolution of corporate governance framework in India and highlighted the transition of the regulatory framework from the Listing Agreement to the present SEBI LODR Regulations.

 

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Dr.M.Thenmozhi, Director, NISM, spoke at length on the Leadership Role for Women in Listed Companies. She outlined the benefits of effective participation of woman in Board deliberations and the resultant positive impact it would have on the Board decisions. She also advised the companies to prepare themselves in order to adhere to the latest regulatory requirement of having at least one woman independent director in the Board of listed companies.

 

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Dr.Sarat Kumar Malik, Chief General Manager, SEBI, shared his experience with the participants as to how good corporate governance practices can influence the growth of companies and in the long run can contribute to the overall economic development of the country. At the same time, he requested the companies to ensure that benefits of economic growth is shared with all the stakeholders of the society.

 

A Technical Presentation was made by Shri Ashok Kumar Singh, Senior Manager, BSE Ltd, highlighting the recent amendments to the SEBI LODR Regulations.

 

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This was followed by a Panel Discussion on the recent amendments relating to Board Composition, Related Party Transactions and the Institution of Independent Directors. Smt.Shailshri Bhaskar, Practising Company Secretary was moderator of the panel discussion and the panelists were:

  • Shri R Kalidoss - Company Secretary & Head Compliance, ACC Ltd,
  • Shri S Suthakar, Vice President, Corporate Secretarial, Reliance Industries Ltd
  • Shri M.Krishnamoorthy, Member of Faculty & Incharge, NISM-SCG
  • Ms Geetiak Anand, AVP & Compliance Officer at Aditya Birla Fashion and Retail Limited

 

The deliberations were well received by the participants and helped them in understanding the nuances of the latest amendments.

 

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The Workshop concluded with a Vote of Thanks by Shri Nehal Vora, Chief Regulatory Officer, BSE Ltd and CS Hitesh Kothari, Chairman-PDC, ICSI-WIRC.

 

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