SEBI announces the setting up of committee on corporate governance, Uday Kotak as Chairman

Securities and Exchange Board of India announced on June 2, 2017, that the market regulator has set up a committee on corporate governance with Uday Kotak, the Managing Director of Kotak Mahindra Bank, as the chairman of the committee.
 
Further SEBI announced the other members of the committee representing corporate India, stock exchanges, professional bodies, Investor groups, Chamber of commerce, law firms, academicians and research professionals.  
 
The committee will be making recommendations to SEBI with an aim to improve the standards of corporate governance of the listed companies in India. The recommendations are expected to be largely based on issues concerning the issues of independence of directors, improvements in safeguards and related party disclosures along with the accounting and auditing practices of the listed companies. 
 
Besides, the committee will also put in efforts in improving the effectiveness of Board evaluation practices, issues brought up by the investors, transparency and other related issues concerning corporate governance.
    
According to the SEBI, the committee will endeavour to submit the report within a duration of four months.