CURRENT AFFAIRS

2022

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

In 2017, SEBI had formed a “Committee on Corporate Governance” which recommended separating the roles of Chairperson and MD/CEO of listed entities. Who was the head of this committee?

A	Uday Kotak
B	Anand Mahindra
C	Cyrus Poonawalla
D	Dilip Shanghvi

Explanation:

Detailed explanation-1: -The market regulator had in June 2017 set up a committee on corporate governance under Uday Kotak with a view to seek recommendations to further enhance corporate governance norms for listed companies.

Detailed explanation-2: -BSE Ltd on Monday said that market regulator Securities and Exchange Board of India (SEBI) has approved Sundararaman Ramamurthy as the managing director (MD) and chief executive officer (CEO) of the exchange.

Detailed explanation-3: -Detailed Solution. The correct answer is the Narasimham Committee. The SEBI was given statutory recognition in 1992 on the recommendation of the Narasimham Committee. The Securities and Exchange Board of India (SEBI), was initially constituted on April 12, 1988.

Detailed explanation-4: -UPDATE: SEBI made the separation of MD/CEO roles voluntary given “unsatisfactory level of compliance” as of February 2022.

Detailed explanation-5: -Market regulator Securities and Exchange Board of India (SEBI) on February 15 changed the requirement for listed companies to separate posts of chairperson and managing director (MD) or chief executive officer (CEO) to voluntary from mandatory.

There is 1 question to complete.