https://www.taxtmi.com/acts?id=52178 Every depository must appoint two executive directors as key management personnel to head Vertical 1 and Vertical 2 (with an optional executive director for Vertical 3). Their appointment, renewal, termination, tenure and age limits mirror managing director provisions and require board approval. Executive directors cannot serve on other company boards except with prior governing board approval for depository subsidiaries. They must manage their verticals, prioritize securities market and public interest over revenue objectives, with Vertical 1 ensuring infrastructure and systems and Vertical 2 responsible for overall risk management. en-us Mon, 24 Nov 2025 11:47:07 +0530 Mon, 24 Nov 2025 13:13:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=52178 Every depository must appoint two executive directors as key management personnel to head Vertical 1 and Vertical 2 (with an optional executive director for Vertical 3). Their appointment, renewal, termination, tenure and age limits mirror managing director provisions and require board approval. Executive directors cannot serve on other company boards except with prior governing board approval for depository subsidiaries. They must manage their verticals, prioritize securities market and public interest over revenue objectives, with Vertical 1 ensuring infrastructure and systems and Vertical 2 responsible for overall risk management. Act-Rules SEBI Mon, 24 Nov 2025 11:47:07 +0530 https://www.taxtmi.com/acts?id=52178