Securities And Exchange Board Of India - Subsection
Section 17(1B) in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
(1B)With effect from April 1, [2022] [Substituted '2020' by Notification No. SEBI/LAD-NRO/GN/2020-02, dated 10.1.2020 (w.e.f. 2.9.2015).], the top 500 listed entities shall ensure that the Chairperson of the board of such listed entity shall -(a)be a non-executive director;(b)not be related to the Managing Director or the Chief Executive Officer as per the definition of the term "relative" defined under the Companies Act, 2013:Provided that this sub-regulation shall not be applicable to the listed entities which do not have any identifiable promoters as per the shareholding pattern filed with stock exchanges.Explanation. - The top 500 entities shall be determined on the basis of market capitalisation, as at the end of the immediate previous financial year.]
