Vigil mechanism requirement for companies to enable confidential reporting, oversight by audit committee or nominated director and safeguards. Rule mandates a vigil mechanism for listed companies and certain specified classes to allow directors and employees to report genuine concerns; audit committees oversee the mechanism with recusal for conflicted members, or where no audit committee exists a nominated director performs that role. The mechanism must include safeguards against victimisation, permit exceptional direct access to the audit committee chairperson or nominated director, and allow action against repeated frivolous complaints.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Vigil mechanism requirement for companies to enable confidential reporting, oversight by audit committee or nominated director and safeguards.
Rule mandates a vigil mechanism for listed companies and certain specified classes to allow directors and employees to report genuine concerns; audit committees oversee the mechanism with recusal for conflicted members, or where no audit committee exists a nominated director performs that role. The mechanism must include safeguards against victimisation, permit exceptional direct access to the audit committee chairperson or nominated director, and allow action against repeated frivolous complaints.
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