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

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.... SEBI/CFD/DIL/CG/1/2006/13/1 January 13, 2006 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 SEBI, vide circular SEBI/CFD/DIL/CG/1/2004/12/10 dated October 29, 2004, issued the revised clause 49 of the listing agreement, which was to come into effec....

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....ings has been increased from three months to four months. • Sitting fees paid to non-executive directors as authorized by the Companies Act, 1956 would not require the previous approval of shareholders. • Certification of internal controls and internal control systems by CEO/ CFO would be for the purpose for financial reporting. In view of the above, certain changes ha....

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....e months" occurring in the first sentence, the words "four months" shall be substituted; 3.   Sub-clause (V)(c) shall be substituted with the following, namely - "(c) They accept responsibility for establishing and maintaining internal controls for financial reporting and that they have evaluated the effectiveness of internal control systems of the company pertaining to financial r....