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of <h1>SEBI Amends Clause 49: Extends Board Meeting Gap, Allows Director Fees, Requires CEO/CFO Certification for Compliance.</h1> The Securities and Exchange Board of India (SEBI) issued a circular regarding amendments to Clause 49 of the Listing Agreement for corporate governance in listed companies. Effective January 1, 2006, the changes include extending the maximum time gap between board meetings from three to four months, allowing sitting fees for non-executive directors without prior shareholder approval, and requiring CEOs and CFOs to certify internal controls for financial reporting. These amendments aim to enhance compliance and transparency in corporate governance practices. Stock exchanges are instructed to update the listing agreement accordingly.
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