Sebi defers deadline by 2 years to separate roles of chairman & MD

Now, the date of implementation of the regulatory provision has been deferred to April 1, 2022, the regulator said in a notification without giving any reason for the move

Markets regulator Sebi has deferred by two years to April 2022 its directive for listed companies to split the roles of chairman and managing director in view of demand from corporates and to keep compliance burden lower in the wake of the current economic scenario.

Under the Sebi norms, the top 500 listed entities by market capitalisation were mandated to comply with the requirement of separation of the roles of chairperson and managing director (MD) or chief executive officer (CEO) with effect from April 1, 2020.

The norms were aimed at improving corporate governance structure of listed companies.

Now, the