April 18, 2014 9:13 AM

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SEBI issues detailed corporate governance norms

The Security and Exchange Borad of India (SEBI) on Thursday came out with detailed corporate governance norms for listed companies providing for stricter disclosures and protection of investor rights, including equitable treatment for minority and foreign shareholders.The new rules, which would be effective from October 1, require companies to get shareholders' approval for related party transactions, establish whistle blower mechanism, elaborate disclosures on pay packages and have at least a woman director on their boards.The norms issued by SEBI are aligned with the new the Companies Act and it is aimed to encourage companies to adopt best practices on corporate governance.

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