SEBI notifies stricter norms for appointment of managing director at listed companies
The Hindu
As per the Companies Act, 2013, the board cannot appoint a person who fails to get elected as a director at a general meeting as an additional director.
Putting in place stringent norms, SEBI has said that a person rejected by shareholders at a general meeting can be appointed or re-appointed as a managing director or whole time director or manager, only after providing detailed justifications and ensuring compliance with various conditions.
"The appointment or a re-appointment of a person, including as a Managing Director (MD) or a Whole Time Director (WTD) or a Manager, who was earlier rejected by the shareholders at a general meeting, shall be done only with the prior approval of the shareholders," SEBI said in a notification on Monday For considering the appointment or re-appointment of such a person earlier rejected by the shareholders, there should be a detailed explanation and justification by the company's nomination and remuneration committee and the board of directors for recommending the person.
As per the Companies Act, 2013, the board cannot appoint a person who fails to get elected as a director at a general meeting as an additional director.
SEBI accuses Bank of America of insider trading violations linked to a 2024 stock sale of Aditya Birla Sun Life AMC.
Beijing has asked some Chinese tech companies to halt orders for Nvidia’s H200 chips this week, and is expected to mandate domestic artificial intelligence chip purchases, the Information reported
Indian stock markets dip as foreign fund outflows and U.S. tariff concerns weigh on investor sentiment.
Elon Musk persuaded a judge on Wednesday to allow a jury trial on his allegations that ChatGPT maker OpenAI violated its founding mission
South Korean tech giant Samsung Electronics said Thursday it expected its fourth-quarter profit to reach a record 20 trillion won ($13.8 billion).
India's climate progress shows reduced emissions intensity and increased renewable capacity, but absolute emissions remain high, requiring urgent action.
According to recent Foreign Trade Performance Analysis data, India’s overall exports remained resilient in late 2025, even as traditional sectors faced sharp declines. While shipments of gems and jewellery to the U.S. plummeted, the overall figures were bolstered by a massive 237% surge in telecom exports, particularly smartphones. Data shows that Indian exporters are aggressively diversifying their portfolios. By deepening ties with existing partners and discovering new alliances, India is replacing lost U.S. sales with a more diversified set of trade partners
Agnivesh Agarwal, son of billionaire Anil Agarwal, dies at 49 after a skiing accident and subsequent cardiac arrest.
Infosys partners with AWS to enhance generative AI adoption, transforming operations and innovation across multiple industries.
India requests fare data from airlines amid IndiGo's antitrust investigation following widespread flight cancellations and disruptions.
Despite severe air pollution, Delhi remains the top choice for high-value homebuyers, including HNIs and celebrities.
Centre invites public feedback on the draft Pesticides Management Bill, 2025, aiming to replace the 1968 Insecticides Act.
India's wind energy capacity reached 54.51 GW in 2025, marking an 85.4% increase from the previous year.