Sebi relaxes governance norms, increases deadline for minimum one woman director on the boards of listed companies to April 1, 2015

To simplify the procedure of executing better corporate governance norms by listed firms, the market regulator Sebi relaxed several provisions of the fresh law, particularly for smaller companies, and stretched the deadline for appointing at least one woman director to April 1, 2015.

Although amendments were made to numerous provisions of the Corporate Governance Code in order to align it with the appropriate sections of the new Companies Act (2013), the deadline would remain unmoved at October 1, 2014, except for obligation of a minimum one woman director on the boards of listed companies. Thus, the listed companies would have time till April 1, 2015 to fulfill with the woman director-related provision.

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