SEBI updates

SEBI has issued circular prescribing fine structure for Non Compliance of Corporate Governance norms under Clause 49(II)(A)(1) of Listing Agreement i.e.

- -       Appointment of  Women Director

- -       Having optimum combination of Executive Directors and Non Executive Directors with alteast 50% Non Executive Directors

Below is the fine structure 

Compliance Status	Fine Structure
Listed entities complying between April 1, 2015  and  June 30, 2015	Rs. 50,000/-
Listed entities complying between July 1, 2015  and  September 30, 2015	Rs. 50,000 + Rs. 1000/- per day w.e.f. July 1,  2015 till the date of compliance
Listed entities complying on or after October 1,  2015	Rs. 1,42,000/- + Rs. 5000/- per day from  October 1, 2015 till the date of compliance

For any non-compliance beyond September 30, 2015, in addition to monetary fine SEBI may take any other action, against the non-compliant entities, their promoters and/or directors.

Click here to download the ORIGINAL CIRCULAR.

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