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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>SEBI Issues Guidelines for Appointing Independent Directors in AMCs and Trustee Companies to Enhance Governance and Transparency.</h1> The circular issued by SEBI outlines guidelines for appointing independent directors on the boards of asset management companies (AMCs) and trustee companies to enhance corporate governance and transparency in mutual fund operations. It clarifies that independent trustees should not be associated with sponsors, and nominees of companies with stakes in sponsors or AMCs are considered associate directors. A three-year cooling-off period is required for associates before they can become independent directors. The circular mandates compliance with regulations concerning the composition of boards, emphasizing the need for 50% or 2/3rd independent directors, and provides a revised format for submitting director bio-data to SEBI.
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