Market regulator Securities and Exchange Board of India (SEBI) has set up a committee under the Chairmanship of Uday Kotak, Executive Vice Chairman and Managing Director of Kotak Mahindra Bank to help improve the standards of corporate governance of listed companies in India.
Besides Kotak, the panel comprises of 20 members including representatives of Corporate India, stock exchanges, professional bodies, investor groups, chambers of commerce, law firms, academicians and research professionals. In the past, SEBI had set up committees on corporate governance under the Chairmanship of N.R. Narayanamurthy and Kumaramangalam Birla.
The Panel has been tasked to go into issues in accounting and auditing practices by listed companies. SEBI has advised this Panel to “endeavour” to submit its report within a period of four months.
Static Takeaways for RBI Phase-I Exam-
- Ajay Tyagi is the current Chairman of SEBI
- SEBI is Headquartered in Mumbai, Maharashtra
- Kotak Mahendra Bank is Headquartered in Mumbai and it was founded in 2003.
Source- The Hindu Business Line