Corporate governance reforms for LIC require board committees, enhanced audit oversight, and shareholder rights to enable listing compliance. Amendments vest direction of LIC in a constituted Board with prescribed director categories, require constitution of board-level committees including an Executive Committee, Investment Committee, Nomination and Remuneration Committee and Audit Committee with specified composition and functions, enable share issuance and transferability to align shareholder rights with listing requirements, and introduce financial reporting, audit, and related-party transaction regimes together with transitional and rulemaking provisions to facilitate listing compliance.
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Corporate governance reforms for LIC require board committees, enhanced audit oversight, and shareholder rights to enable listing compliance.
Amendments vest direction of LIC in a constituted Board with prescribed director categories, require constitution of board-level committees including an Executive Committee, Investment Committee, Nomination and Remuneration Committee and Audit Committee with specified composition and functions, enable share issuance and transferability to align shareholder rights with listing requirements, and introduce financial reporting, audit, and related-party transaction regimes together with transitional and rulemaking provisions to facilitate listing compliance.
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