SEBI extends Deadline to Split Roles of Chairman & MDs by 2 Years to April 2022

SEBI extends Deadline to Split Roles of Chairman & MDs by 2 Years to April 2022

• Market Regulator Securities and Exchange Board of India (SEBI) has extended the deadline given to companies to separate the roles of Chairman and Managing Director (CMD) post by two years to April 2022.
• Under Sebi’s norms, the top 500 listed entities by market capitalisation need to comply with the requirement of separation of the roles of chairperson and MD or chief executive officer (CEO) with effect from April 1, 2020.
• This deadline has now been extended till April 1 2022.
• The norms were part of the series of recommendations given by the Sebi-appointed Uday Kotak-led committee on corporate governance.