SEBI PARTIALLY ACCEPTS KOTAK COMMITTEE'S RECOMMENDATIONS ON CORPORATE GOVERNANCE

In June 2017, the Securities and Exchange Board of India ('SEBI') constituted a committee on corporate governance under the chairmanship of Mr. Uday Kotak, to improve standards of corporate governance of listed entities in India (the 'Kotak Committee'). The Kotak Committee submitted its report on October 5, 2017, detailing several recommendations (the 'Kotak Committee Recommendations'). Thereafter, SEBI invited public comments to the Kotak Committee Recommendations, which were subsequently considered by the board of directors of SEBI (the 'Board') in its meeting on March 28, 2018.