Corporate Governance in listed Companies – Clause 49 of the Listing Agreement

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....CG/2/2008/23/10 October 23, 2008 The Managing Director/Executive Director/Administrator of all the Stock Exchanges Dear Sir/Madam, Sub: Corporate Governance in listed Companies - Clause 49 of the Listing Agreement I. SEBI vide circular SEBI/CFD/DIL/CG/1/2008/08/04 dated April 08, 2008 amended Clause 49 of the Equity Listing Agreement inter-alia including a provision stating that if ....

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.... is a listed entity, its directors other than the independent directors, its employees or its nominees shall be deemed to be related to it; b.      If the promoter is an unlisted entity, its directors, its employees or its nominees shall be deemed to be related to it." II. Applicability: The aforesaid amendments in Clause 49 of Equity Listing Agreement shall be im....